“Tupperware Brands filed for Chapter 11 bankruptcy protection late on Tuesday, succumbing to mounting losses amid poor demand for its once-iconic food storage containers.

The company’s popularity exploded in the 1950s as women of the post-war generation held ‘Tupperware parties’ at their homes to sell food storage containers as they sought empowerment and independence. However, it has lost its edge to rivals making cheaper and more environmentally friendly containers,” reports Reuters via CNBC.