Tupperware's lenders opposed the food storage and kitchen products company's proposed bankruptcy auction during the company's first court appearance, cutting off its access to cash and threatening to derail the company's bankruptcy plans.

Tupperware and some of its subsidiaries have filed for Chapter 11 bankruptcy protection, the once-iconic food container maker said in a statement.

The brand, once so popular it became the name of an entire product category, has seen sales fall as consumer behaviors change and competition increases.

Tupperware is best known for its once-iconic, colorful food storage containers. Here's what we know so far after the company filed for bankruptcy.

Tupperware Brands and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Tuesday, succumbing to declining demand for its once-popular colorful food storage containers and ballooning losses.

Tupperware Brands, the food-storage company known for its resealable plastic containers and pioneering direct-to-consumer sales, has filed for bankruptcy after years of struggling with weak sales.Tupperware’s voluntary chapter 11 filing gives it,

Tupperware listed $500 million-$1 billion in estimated assets and $1 billion-$10 billion in estimated liabilities, according to bankruptcy filings in the U.S. Bankruptcy Court for the District of Delaware. It listed the number of creditors to be between 50,001 and 100,000.