OSCEOLA COUNTY, Fla. — Embattled storage container company Tupperware has agreed to sell itself to a group of lenders.
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This comes weeks after Tupperware filed for Chapter 11 bankruptcy.
Under the deal, the company will receive $23.5 million in cash and $63 million in debt relief.
Read: Tupperware files for bankruptcy after years of declining sales
In exchange, the lenders will get all of Tupperware’s intellectual property.
If approved in court, the deal could close by the end of the month.
Read: Tupperware faces class-action lawsuit
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