The US firm shot to fame in the 1960s and 70s thanks to its iconic"Tupperware parties" - but it has struggled in recent years to keep up with a changing market.Tupperware, the US maker of food storage containers, has warned it faces going out of business if it cannot find new funding.
Shares in the 77-year-old firm fell by almost 50% on Monday after it warned of"substantial doubt" about its"ability to continue as a going concern". The US company was warned on 3 April its shares were in danger of being delisted from the New York Stock Exchange because it had not yet filed its annual report.It has confirmed it will need to renegotiate its loans after already amending agreements three times since August 2022.
CEO Miguel Fernandez said in a statement:"Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position. "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."The business has been struggling in recent years to get rid of its old-fashioned image and attract younger customers by becoming more environmentally friendly.
How about cutting down shares payouts instead!
I suppose it’s because these types of containers are everywhere and not made by Tupperware but everyone uses the word to describe them.
This is ‘fresh’ news(!)
Don't worry everyone I've got enough tupperware to last the rest of us for the rest of our lives. Can't promise all the right lids though.
Now they know how we feel when we cannot find the lid!
Just about everything comes in a storage container from the store.
You mean it’s still in business?! Last I saw of that stuff was on Napoleon Dynamite.
Sadly, I have a good selection from the Indian/Chinese take aways over the years 😅
100 quid for that
Maybe have an ad with a guy meal prepping or something
Maybe we could all help out with the millions of unused Tupperware boxes we have in our cupboards across the UK.
I think my mrs has kept you in business for the past 10 years
Carol voderman will be gutted
Will no one think of the sheep?
Like ok Tupperware? What do you want me to do about it? Fill yet another cupboard full of your stuff where I can’t match this lids up again?