A meeting of creditors will be held on Wednesday, June 25, at 14:00, at the Lisbon Commercial Court, as indicated in the notice posted on the Citius portal. The meeting aims to deliberate on the formation of a Creditors’ Committee.
In remarks to Lusa, the insolvency administrator, Jorge Calvete, announced that the “procurement of an investor for the entire industrial establishment” will also proceed.
The sale process of the factory will commence once the Creditors’ Committee is established. This body, in conjunction with the judicial administrator, will determine minimum sale values, methods of disclosure, and promotion strategies for the sale.
The objective is to settle debts totaling approximately 10 million euros with the sale of the factory and its equipment, of which about nine million euros are owed to the employees of Tupperware-Indústria Lusitana.
Tupperware – Indústria Lusitana de Artigos Domésticos, which owns the factory in Montalvo in the Santarém district, ceased production in January and was declared insolvent on February 10, leaving 200 workers unemployed.
The insolvency filing identified creditors including, beyond the employees, various companies within the Tupperware group, Gráfica Ideal de Águeda – Indústrias Gráficas S.a., Dart Industries Inc., BCP, Carla Sofia Soeiro Cruz Gonçalves, and Ignacio Zubizarreta.
The Tupperware factory in Montalvo was controlled by the company Tupperware Indústria Lusitana de Artigos Domésticos, which was 74% owned by Tupperware Portugal – Artigos Domésticos Unipessoal Lda and 26% by Tupperware Iberia.
Both companies are entirely dependent on their parent company, the US-based Tupperware Brands Corporation.
The Tupperware multinational factory in Portugal, operating since 1980, was entirely dependent on its North American parent. Following its bankruptcy in September, plans for the future do not appear to include Europe, as the company has revoked its sales license for all European countries.
