The company that owns Tupperware, the iconic food storage and kitchen products business that has been around for nearly 80 years, filed for Chapter 11 bankruptcy in Delaware on Tuesday, officials said.

Tupperware, one of the brands that revolutionized U.S. retailing with its famous sales parties, is entering Chapter 11 after attempts to turn the business around.

The company said it would seek court approval for a sale process for the business to protect its brand and "further advance Tupperware's transformation into a digital-first, technology-led company."