Food Storage Brand Tupperware Warns It Could Go Out Of Business WhatDoYouThink?
Tupperware, the 77-year-old U.S. maker of food storage containers, warned that it could go out of business unless it can quickly raise new financing. What doKara Demarcus, Aspiring Grammarian.
Tupperware, the 77-year-old U.S. maker of food storage containers, warned that it could go out of business unless it can quickly raise new financing. What doKara Demarcus, Aspiring GrammarianAustralia Latest News, Australia Headlines
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Food storage brand Tupperware warns it could go out of businessCreated in the 1940s by American entrepreneur Earl Tupper, the Orlando-based company enjoyed a short-lived resurgence in popularity during the pandemic.
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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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Cash-strapped Tupperware might pack it inTupperware revealed in a Securities and Exchange Commission filing Friday its doubts that it can keep operating, given the state of the company’s finances.
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