Tupperware warns it may go out of business

Tupperware is warning it may go out of business, just three years after the retro brand enjoyed aThe Orlando-based company said it had"substantial doubt about its ability to continue as a going concern" in a press release and securities filing.

Shares of the direct marketing company plunged 50% after the securities filing, to $1.22 a share. Its stock is down 70% this year. in part"cash constraints caused by higher interest costs." It's also considering selling some of its real estate holdings or cutting other parts of the business, which it termed"right-sizing efforts" in its press release, posted late Friday.

"Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position," Miguel Fernandez, Tupperware Brands CEO, said in the. "The Company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.

Tupperware also warned that it faces delisting from the New York Stock Exchange because it is late in filing its standard annual report, known as a 10-K. It also said that when it does file its financial results, they will look substantially worse than the company initially reported.last October as part of a"turnaround" plan. That same month, it renegotiated its agreements with lenders to give the company more flexibility.

I recently bought some for my daughter. She refused to accept it. Doesn’t want to use plastics.

In my Opinion; Don't Vote for the Machiavellian Republicans; 'Whom took away, your abortion rights, the pill, attacking LGBTQ+Fam. and taking away a lot of your rights! Just show them at the Polls!!

Nobody cares I swear, they done bro

Is everyone buying the cheap dollar store brands that end up in landfills?

Finally

How is it possible?

Definitely some executive malfeasance going on there... hope the investors sue their golden parachute pants off.

Guess their business model went stale.

We gotta deal with plastics. Sad but true.

Oh no. That’s sad to hear.

Literally anything good has neither ended or is being replaced with pure crap or is going to end & everything that sucks stays.

Someone should throw them a party….

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tupperware’s stock craters after food-storage company warns it may go bustTupperware Brands Corp.'s stock slid 45% Monday to the lowest level in three years. I guess no more people hosting Tupperware parties
Source: MarketWatch - 🏆 3. / 97 Read more »

Tupperware warns company could go out of businessThe company says it is looking for financing because it doesn’t have enough cash to fund its operations.
Source: cleveland19news - 🏆 70. / 68 Read more »

Micron, Tesla, Apple, Tupperware and other stocks on the moveTupperware, Micron Technology and Pioneer Resources were among the biggest moving shares on Monday.
Source: MarketWatch - 🏆 3. / 97 Read more »

Tupperware stock plunges after warning it could go out of business | CNN BusinessThe 77-year-old company planned to grow its business through multiple retail channels -- like Target -- and get its products in front of younger consumers who’ve never even heard of Tupperware parties. That has failed to work so far. surprised they lasted as long as they did after Gladware came to stores decades ago Tupperwhere? 'You still get the free sailboat though'
Source: CNN - 🏆 4. / 95 Read more »