Tupperware factory auction in Portugal fails to find buyer

The auction for the Tupperware factory in Montalvo, Portugal, has failed to find a buyer. A single bid of 3.8 million euros was submitted for the entire industrial unit, falling significantly short of the 10 million euro minimum price requested.

The auction was structured in three phases, including the sale of the entire unit, the separation of real estate and movable assets, and a lot-by-lot sale. However, offers across the various stages reportedly reached only about 25% of the base prices. The creditors' commission will now review the proposals, which may lead to a revaluation of the assets so the factory can be returned to auction with a lower base price.

The facility, which previously employed approximately 260 workers, ceased production in January 2025 following the insolvency of the company holding the unit. This follows a previous failed attempt to sell the factory in April.