Tupperware agreed to sell its business to a group of lenders on Tuesday in an attempt to recover after filing for bankruptcy last month.

Tupperware has agreed to sell its business to lenders for $23.5 million in cash and $63 million in debt relief, cancelling an open-market auction of its assets.

Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for $23.5 million in cash and over $63 million in debt relief, canceling its plans for an open-market auction of its assets.

The lenders now poised to acquire Tupperware include Alden Global Capital, Stonehill Institutional Partners and a trading desk of Bank of America

Tupperware Strikes Deal to Sell to Lenders in Bankruptcy

Tupperware Brands Corp. hammered out a deal for its creditors to acquire the business, ending a dispute that’s risked a liquidation of the iconic company after a push from the federal judge overseeing the bankruptcy.