Tupperware warns it could go out of business

from the New York Stock Exchange warned that Tupperware’s stock is in danger of being delisted for not filing a required annual report.The company also said its board of directors is working with management to improve the company’s finances and attempting to secure supplemental financing, including potentially taking on investors or new financing partners.

“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” said Miguel Fernandez, president and chief executive officer of Tupperware brands, in the news release. “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 said it’s considering layoffs as well as a slew of other methods to preserve or acquire additional liquidity. The company said it’s reviewing its real estate portfolio for property it may sell and, according to the , it had previously moved off all its remaining land in Central Florida with deals in 2021 and 2020, also entering a sale-leaseback agreement for its corporate headquarters in November 2020.Daily Herald Archive / SSPL via Getty Images

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