The property located in Montalvo, in the municipality of Constância, has been valued at 5.5 million euros. The value does not include movable assets, so the total value of the unit, including the building and equipment, could be around 10 million euros.
Tupperware Portugal, was declared insolvent eight months ago. Quoted by Expresso, lawyer Paulo Valério, chairman of the Tupperware Creditors' Committee, said that the presentation of the terms of sale should be made in October, "with expectations of collecting bids in the following two to three months."
It is worth noting that the sale of the factory will occur through the submission of sealed bids, which will be opened in court. The winning bid will be the one with the highest value, as long as it meets the established minimum values. A bidding process or a drawing may be held if equal offers are received, the publication writes.
"Since the factory has not yet been sold, it was also not possible to obtain payment for the creditors, especially the workers, who represent more than 90% of the liabilities and are owed approximately €9 million in labor claims," stated Paulo Valério. "A partial payment of these claims (approximately one-third) has already been advanced by the Wage Guarantee Fund (Portuguese State)," he added.