Tupperware Brands, which experienced a resurgence during the pandemic, is now pursuing investors to keep it afloat and is in danger of being delisted by the...
The company last week received a non-compliance notice from the NYSE for failing to file its annual results with the Securities and Exchange Commission. Last month’s preliminary results released to investors showed it lost around $35 million in the fourth quarter.
Analysts say that creditors could potentially call Tupperware on its debt, which the company is unlikely to be able to repay. Tupperware said it is considering selling some real estate holdings and other non-core assets to free up cash.
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Tupperware, in dire straits, seeks financing to stay afloatTupperware Brands, which experienced a resurgence during the pandemic, is now pursuing investors to keep it afloat and is in danger of being delisted by the New York Stock Exchange. Shares of Tupperware Brands Corp. tumbled nearly 50% on Monday after the company said late last week that it had hired financial advisers to help it secure financing and “remediate its doubts regarding its ability to continue as a going concern.” Sales and profits have steadily fallen the past couple of years after the pandemic breathed new life into the Orlando, Florida-based maker of food storage containers.
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Tupperware, in dire straits, seeks financing to stay afloatTupperware Brands, which experienced a resurgence during the pandemic, is now pursuing investors to keep it afloat and is in danger of being delisted by the New York Stock Exchange.
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Tupperware issues another warning that it may go out of businessThe company's stock plummeted nearly 49% on Monday.
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