Tupperware's American directors agree to bankruptcy of Belgian branches
The American directors of plastic container manufacturer Tupperware have agreed to the bankruptcy of its Belgian branches. Its Belgian factory employs about 270 people in Aalst, East Flanders. A curator will be appointed soon to liquidate the assets and the amount raised will be used for the severance payments of the workers.
Tupperware Brands found itself in an untenable situation last year as it could no longer pay its debts, amounting to 700 million dollars. A takeover by lenders such as Stonehill Capital Management Partners and Alden Global Capital followed, which would let The New Tupperware Company focus on a number of “core countries”, which does not include Belgium.
Until now, Tupperware's US headquarters hadn’t commented on the Belgian sites. Late last year, licences were revoked to make or sell containers and other plastic items in Aalst. That meant the plant could no longer operate, but local management did not receive information from US executives.
'Taking responsibility'
At a final works council last Monday, the local management suggested filing for bankruptcy on their own, as staff were out of work. But it was unclear exactly how that would be done without the Americans' agreement. The US management has since given the go-ahead to dismantle the Belgian branches. No dates are yet known for the further steps in the bankruptcy but the works council gave the green light on Monday to ask the court to appoint a curator.
“We would have preferred a concrete date,” said Chiara Van Geert of the ACV union. “But I am satisfied that we can now tell the staff that the end is in sight. The Americans are taking responsibility here, even if it is late.”
The unions will now negotiate severance payments and hope for a quick and fair settlement for the affected workers. A job fair will be organised.
#FlandersNewsService | A Tupperware outlet in Wijnegem, Antwerp © PHOTO ANP / HOLLANDSE HOOGTE / PETER HILZ
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