late Friday, the container maker said there's "substantial doubt about the company's ability to continue as a going concern," and that it's working with financial advisers to find financing to stay afloat.
The New York Stock Exchange also warned that Tupperware's stock is in danger of being delisted for not filing a required annual report. The 77-year-old business has been struggling in recent years to maintain its relevance against rivals. It has been trying to shed its staid image and attract younger customers with newer and trendier products.
"The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge," he said.
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Micron, Tesla, Apple, Tupperware and other stocks on the moveTupperware, Micron Technology and Pioneer Resources were among the biggest moving shares on Monday.
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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
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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'
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