Does this mean you can get your grandma’s favorite storage bin for less?
Have you ever wondered how Tupperware makes money when most of us use leftovers from our parents’ and grandparents’ Tupperware parties? Actually, maybe not.
The company recently shared that it has “significant doubts about its ability to continue as a going concern.” For this reason, the company turned to financial advisors to improve the “equity structure” and remove these doubts.
“Tupperware has embarked on a transformational journey and today represents an important step in addressing our capital and liquidity challenges,” Miguel Fernandez, president and CEO of Tupperware Brands, said in a statement. “The company is doing everything possible to minimize the impact of these recent events and we are taking immediate steps to seek additional financing and improve our financial position.”
The brand statement goes on to investigate investment and financing options, as well as other cash management options, to accumulate or at least maintain the income.
In addition, Tupperware could be in trouble with the New York Stock Exchange (NYSE) because the company will not file the correct tax forms for 2022. If the decision is not settled, the NYSE reserves the right to sue. Deleting with Tupperware. , which takes the business out of the stock market. . Tupperware said it plans to file the forms within 30 days.
Following the April 7 announcement, when the market reopened on Monday, April 10, Tupperware’s already undervalued shares fell from $2.45 to $1.44 per share.
Tupperware has been manufacturing its products for over 75 years and is present on five continents. While the products were initially only offered for sale through Tupperware parties, where people tried to sell Tupperware products with incentives, customers can now shop through the Tupperware online store. Some products are also available through retailers such as Target, Amazon, and Bed Bath & Beyond.
Tupperware isn’t currently on sale, but only time will tell if you can find your favorite Tupperware products for less.
