According to lawyer Paulo Valério, the operation includes “the building, machinery and equipment, in an integrated package,” with the award expected to go to “whoever submits the highest bid” for the acquisition of the factory located in the municipality of Constância, district of Santarém.
The sale of the factory unit, which has operated in the parish of Montalvo since 1980, will be promoted by KPMG and should begin “in the coming weeks,” the lawyer indicated.
“The sales process will be promoted by KPMG, contracted for this purpose by the insolvent estate, and involves the sale of the company as a whole,” explained Paulo Valério, adding that the method will be through “sealed bids, which will be opened in the presence of the Judicial Administrator.”
The lawyer stated that a minimum value of €10 million has been defined for the transaction.
“The factory should be awarded to whoever submits the highest bid, provided it complies with the conditions that will be established, namely any provision of a guarantee and a deadline for the execution of the deed,” he declared.
The valuation of the industrial complex is €8.59 million, according to the updated values provided to Lusa.
The movable assets are valued at €3.9 million, the immovable assets at €4.67 million, and the rural property at €12,000.
Labour debts
Regarding labour debts, Paulo Valério confirmed that the approximately 200 workers who became unemployed are the largest creditors in the process.
“The debt to the workers is €9.074 million,” he stated, adding that about a third of the amount “was already settled by the Wage Guarantee Fund last month,” a situation confirmed to Lusa by workers and the mayor, who has been closely monitoring the process.
“It is a right that the workers have and that guarantees them some support during this difficult phase, while the sale process of the Montalvo factory continues,” said Sérgio Oliveira, noting that “only with the sale of these assets will they be able to receive the compensation they are entitled to.”
The total recognised liability is €11.47 million, and the Creditors’ Committee expects that the proceeds from the sale will allow “a full repayment of the workers’ claims,” although this will depend “on the proposals actually submitted.”
In parallel, the collection of international debts from the Tupperware group is underway.
“The collection of debts from international companies of the Tupperware group is also being promoted, particularly in Ireland and Switzerland, amounting to more than €15 million,” he confirmed.
The future of the factory remains uncertain, possibly involving continued industrial activity in the same sector. However, the production of Tupperware-branded items is not guaranteed.
“The specific production of Tupperware products would depend on obtaining a license for that purpose, which is not the case,” warned the lawyer.
Even so, “nothing prevents a potential buyer of the factory from negotiating with the holders of the industrial property rights of the brand to obtain such a license in the future.”
The Montalvo factory, which once employed around 260 workers, ceased production in January and was declared insolvent on February 10th, after the withdrawal of production and marketing licenses for the Tupperware brand in Portugal.
The Tupperware factory in Montalvo was controlled by the company Tupperware Indústria Lusitana de Artigos Domésticos, which in turn was 74% owned by Tupperware Portugal – Artigos Domésticos Unipessoal Lda and 26% by Tupperware Iberia.
