Tupperware Brands Corporation, whose food containers have been a mainstay in American kitchens, has filed for bankruptcy.

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,

Tupperware Brands and some of its subsidiaries have filed for Chapter 11 bankruptcy protection and are seeking a buyer, the food container firm said, after years of dwindling sales.

Fans are mourning the failure of the famous brand, a longtime kitchen staple hailed around the world for its durability.

The embattled company says it will ask for court permission to start a sale process of the business and aims to continue operating during the bankruptcy proceedings. Last year, the 78-year-old firm warned that it may go bust unless it could quickly raise new financing.

The homeware brand synonymous with cold leftovers has faced declining sales and aims to sell itself out of chapter 11.

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.

The iconic food-storage company has voluntarily initiated chapter 11 proceedings and will seek court approval to continue operating and facilitate a sale process.