Tupperware shares plunge 50% on Monday after the company warned that it may go out of business. – AFP pic, April 14, 2023.
IS the Tupperware era ending? The 77-year-old US company, known for its trademark plastic food storage containers, warned of “substantial doubt” about its ability to keep operating in light of its poor financial position, according to a recent regulatory filing. When the market opened on Monday following its April 7 disclosure, shares of the company plunged 50% and lingered at the depressed level in successive days.
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Tupperware is just an outdated overpriced plastic container manufacturer who has become irrelevant. Change is inevitable and Tupperware needs to be more grounded to the needs of the consumers to be sustainable.