Tupperware Brands has filed for Chapter 11 bankruptcy protection. The company that revolutionized food storage decades ago says it plans to continue operating and will seek court approval for a sale.

Once a staple household product for midcentury families, Tupperware said in a court filing that its focus on direct sales ultimately became a weakness. Tupperware Brands Corporation (NYSE: TUP), owner of the iconic food storage brand Tupperware,

A brand rooted in women's empowerment, Tupperware was once untouchable. In the ‘50s and ‘60s, the company financially flourished thanks to “Tupperware parties.” This field sales approach eventually transitioned into online sales,