{"id":2858,"date":"2023-04-11T10:04:10","date_gmt":"2023-04-11T15:04:10","guid":{"rendered":"https:\/\/embarrdowns.com\/tupperware-faces-precarious-financial-position-stock-falls-by-50-amidst-bankruptcy-rumors\/"},"modified":"2023-04-11T10:04:11","modified_gmt":"2023-04-11T15:04:11","slug":"tupperware-faces-precarious-financial-position-stock-falls-by-50-amidst-bankruptcy-rumors","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/tupperware-faces-precarious-financial-position-stock-falls-by-50-amidst-bankruptcy-rumors\/","title":{"rendered":"Tupperware Faces Precarious Financial Position: Stock Falls by 50% Amidst Bankruptcy Rumors"},"content":{"rendered":"

Tupperware, the iconic kitchenware company known for its plastic containers and sales parties, has hit a significant rough patch.[0]<\/a><\/sup> Amidst swirling bankruptcy rumors, the company’s stock plummeted by a staggering 50% on Monday. The company’s unstable financial situation was highlighted in a regulatory filing, prompting doubts about its capability to sustain operations.[1]<\/a><\/sup> Even though Tupperware has attempted to improve its reputation, it is currently facing the possible ramifications of its financial difficulties.[1]<\/a><\/sup><\/p>\n

According to the filing, the New York Stock Exchange warned Tupperware’s stock could be delisted due to the company’s failure to file an annual report for 2022.[2]<\/a><\/sup> The report may be coming in the next 30 days, but the company offered “no assurance” it could meet the required deadlines.[3]<\/a><\/sup> In order to secure more funds, Tupperware is exploring the possibility of selling its property and then leasing it back.[4]<\/a><\/sup> The company is “exploring right-sizing efforts, monetization of fixed assets, cash management, and marketing and channel optimization, to preserve and delivery additional liquidity.”[5]<\/a><\/sup><\/p>\n

Tupperware is working with Moelis & Co. and Kirkland & Ellis to explore options for its nearly $700 million in long-term debt.[6]<\/a><\/sup> According to the company, measures are being taken to enhance its liquidity status, which involves engaging in talks with potential investors or financing associates.[6]<\/a><\/sup> The company is examining its real estate holdings to identify potential areas for consolidation and generate additional cash reserves.[7]<\/a><\/sup><\/p>\n

GlobalData retail analyst and managing director Neil Saunders said Tupperware was in a “precarious position” financially and blamed its woes on a “sharp decline in the number of sellers, a consumer pullback on home products” and its failure to connect with younger consumers.[8]<\/a><\/sup> Tupperware has been attempting to reposition itself to a younger audience, but its sales continue to slide.[9]<\/a><\/sup><\/p>\n

Tupperware experienced a sizzling run-up during the first year of the COVID pandemic, almost tripling in 2020 as the lockdown boosted kitchenware sales.[7]<\/a><\/sup> Since then, it has experienced difficult times.[7]<\/a><\/sup> The company declared a going-concern regarding its future and disclosed unsatisfactory earnings in November, which resulted in a drop in share prices.[7]<\/a><\/sup> The hiring of advisers by the renowned brand has added to the unease of investors.[7]<\/a><\/sup><\/p>\n

For many years, Tupperware has been a well-known brand in households due to its long-lasting and multipurpose plastic containers, which were first introduced in 1946.[1]<\/a><\/sup> In recent times, the organization has faced difficulties in shedding its traditional reputation and luring a youthful and eco-conscious customer base.[1]<\/a><\/sup> Despite CEO Miguel Fernandez’s efforts to modernize and rebrand Tupperware, the company has not yet seen the desired results.[1]<\/a><\/sup><\/p>\n

Investors have sued Tupperware for allegedly concealing significant problems in its financial disclosures.[10]<\/a><\/sup> The company’s shares plunged 50% after its securities filing, sinking to $1.22 a share. This year, its stock has decreased by 70%.[11]<\/a><\/sup><\/p>\n

Despite the challenges, Tupperware’s leadership remains optimistic. “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 Fernandez.[12]<\/a><\/sup> “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.[13]<\/a><\/sup><\/p>\n

0. <\/span>“Tupperware warns it could go out of business soon” Orlando Sentinel, 10 Apr. 2023, https:\/\/www.orlandosentinel.com\/business\/os-bz-tupperware-warns-of-going-out-of-business-20230410-l4s2zr4yt5gh7ojxv2tihd4n2q-story.html<\/a><\/a><\/p>\n

1. <\/span>“Tupperware Turmoil: Iconic Brand at RISK, Stock TANKS. Bankruptcy abounds!” iHeart, 10 Apr. 2023, https:\/\/washfm.iheart.com\/featured\/toby-knapp\/content\/2023-04-10-tupperware-turmoil-iconic-brand-at-risk-stock-tanks-bankruptcy-abounds\/<\/a><\/a><\/p>\n

2. <\/span>“Tupperware stock plunges after warning it could go out of business” KABC-TV, 11 Apr. 2023, https:\/\/abc7.com\/tupperware-stock-falls-business-news-operations\/13112442\/<\/a><\/a><\/p>\n

3. <\/span>“Iconic U.S. company Tupperware warns it may shut down” AL.com, 11 Apr. 2023, https:\/\/www.al.com\/news\/2023\/04\/iconic-us-company-tupperware-warns-it-may-shut-down.html<\/a><\/a><\/p>\n

4. <\/span>“The party might be over for Tupperware” Morning Brew, 10 Apr. 2023, https:\/\/www.morningbrew.com\/daily\/stories\/2023\/04\/10\/the-party-might-be-over-for-tupperware<\/a><\/a><\/p>\n

5. <\/span>“Tupperware in financial trouble; investors issue warning” Plastics News, 10 Apr. 2023, https:\/\/www.plasticsnews.com\/news\/tupperware-financial-trouble-investors-issue-warning<\/a><\/a><\/p>\n

6. <\/span>“Tupperware Slumps After Hiring Advisers to Address Concerns About Its Viability” Yahoo Finance, 10 Apr. 2023, https:\/\/finance.yahoo.com\/news\/tupperware-slumps-hiring-advisers-address-135955789.html<\/a><\/a><\/p>\n

7. <\/span>“Tupperware slumps after hiring advisers to address viability concerns” Detroit News, 10 Apr. 2023, https:\/\/www.detroitnews.com\/story\/business\/2023\/04\/10\/tupperware-slumps-after-hiring-advisers-to-address-viability-concerns\/70101325007\/<\/a><\/a><\/p>\n

8. <\/span>“Iconic 77-year-old brand on brink of collapse” news.com.au, 11 Apr. 2023, https:\/\/www.news.com.au\/finance\/business\/retail\/tupperware-company-on-brink-of-collapse-shares-plunge-90\/news-story\/0032aeef97c3799086d6e970eadad45f<\/a><\/a><\/p>\n

9. <\/span>“Tupperware shares plunge as it warns of possible collapse” BBC, 11 Apr. 2023, https:\/\/www.bbc.com\/news\/business-65237293<\/a><\/a><\/p>\n

10. <\/span>“Tupperware\u2019s future uncertain as company warns it could go out of business” WFTV Orlando, 11 Apr. 2023, https:\/\/www.wftv.com\/news\/local\/tupperwares-future-uncertain-company-warns-it-could-go-out-business\/3LRDZ4U5EVDLJKAD3S7EKWD67U<\/a><\/a><\/p>\n

11. <\/span>“Tupperware stock plummets after warning it may go out of business” CBS News, 10 Apr. 2023, https:\/\/www.cbsnews.com\/news\/tupperware-stock-warning-out-of-business-going-concern\/<\/a><\/a><\/p>\n

12. <\/span>“Tupperware: Iconic kitchen brand on brink of collapse” Yahoo Finance Australia, 11 Apr. 2023, https:\/\/au.finance.yahoo.com\/news\/tupperware-iconic-kitchen-brand-on-brink-of-collapse-060825097.html<\/a><\/a><\/p>\n

13. <\/span>“Tupperware May Have a Short Shelf Life” The Motley Fool, 11 Apr. 2023, https:\/\/www.fool.com\/investing\/2023\/04\/10\/tupperware-may-have-a-short-shelf-life\/<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tupperware, the iconic kitchenware company known for its plastic containers and sales parties, has hit a significant rough patch.[0]<\/a><\/sup> Amidst swirling bankruptcy rumors, the company’s stock plummeted by a staggering 50% on Monday. The company’s unstable financial situation was highlighted in a regulatory filing, prompting doubts about its capability to sustain operations.[1]<\/a><\/sup> Even though Tupperware has attempted to improve its reputation, it is currently facing the possible ramifications of its financial difficulties.[1]<\/a><\/sup><\/p>\n

According to the filing, the New York Stock Exchange warned Tupperware’s stock could be delisted due to the company’s failure to file an annual report for 2022.[2]<\/a><\/sup> The report may be coming in the next 30 days, but the company offered “no assurance” it could meet the required deadlines.[3]<\/a><\/sup> In order to secure more funds, Tupperware is exploring the possibility of selling its property and then leasing it back.[4]<\/a><\/sup> The company is “exploring right-sizing efforts, monetization of fixed assets, cash management, and marketing and channel optimization, to preserve and delivery additional liquidity.”[5]<\/a><\/sup><\/p>\n

Tupperware is working with Moelis & Co. and Kirkland & Ellis to explore options for its nearly $700 million in long-term debt.[6]<\/a><\/sup> According to the company, measures are being taken to enhance its liquidity status, which involves engaging in talks with potential investors or financing associates.[6]<\/a><\/sup> The company is examining its real estate holdings to identify potential areas for consolidation and generate additional cash reserves.[7]<\/a><\/sup><\/p>\n

GlobalData retail analyst and managing director Neil Saunders said Tupperware was in a “precarious position” financially and blamed its woes on a “sharp decline in the number of sellers, a consumer pullback on home products” and its failure to connect with younger consumers.[8]<\/a><\/sup> Tupperware has been attempting to reposition itself to a younger audience, but its sales continue to slide.[9]<\/a><\/sup><\/p>\n

Tupperware experienced a sizzling run-up during the first year of the COVID pandemic, almost tripling in 2020 as the lockdown boosted kitchenware sales.[7]<\/a><\/sup> Since then, it has experienced difficult times.[7]<\/a><\/sup> The company declared a going-concern regarding its future and disclosed unsatisfactory earnings in November, which resulted in a drop in share prices.[7]<\/a><\/sup> The hiring of advisers by the renowned brand has added to the unease of investors.[7]<\/a><\/sup><\/p>\n

For many years, Tupperware has been a well-known brand in households due to its long-lasting and multipurpose plastic containers, which were first introduced in 1946.[1]<\/a><\/sup> In recent times, the organization has faced difficulties in shedding its traditional reputation and luring a youthful and eco-conscious customer base.[1]<\/a><\/sup> Despite CEO Miguel Fernandez’s efforts to modernize and rebrand Tupperware, the company has not yet seen the desired results.[1]<\/a><\/sup><\/p>\n

Investors have sued Tupperware for allegedly concealing significant problems in its financial disclosures.[10]<\/a><\/sup> The company’s shares plunged 50% after its securities filing, sinking to $1.22 a share. This year, its stock has decreased by 70%.[11]<\/a><\/sup><\/p>\n

Despite the challenges, Tupperware’s leadership remains optimistic. “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 Fernandez.[12]<\/a><\/sup> “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.[13]<\/a><\/sup><\/p>\n

0. <\/span>“Tupperware warns it could go out of business soon” Orlando Sentinel, 10 Apr. 2023, https:\/\/www.orlandosentinel.com\/business\/os-bz-tupperware-warns-of-going-out-of-business-20230410-l4s2zr4yt5gh7ojxv2tihd4n2q-story.html<\/a><\/a><\/p>\n

1. <\/span>“Tupperware Turmoil: Iconic Brand at RISK, Stock TANKS. Bankruptcy abounds!” iHeart, 10 Apr. 2023, https:\/\/washfm.iheart.com\/featured\/toby-knapp\/content\/2023-04-10-tupperware-turmoil-iconic-brand-at-risk-stock-tanks-bankruptcy-abounds\/<\/a><\/a><\/p>\n

2. <\/span>“Tupperware stock plunges after warning it could go out of business” KABC-TV, 11 Apr. 2023, https:\/\/abc7.com\/tupperware-stock-falls-business-news-operations\/13112442\/<\/a><\/a><\/p>\n

3. <\/span>“Iconic U.S. company Tupperware warns it may shut down” AL.com, 11 Apr. 2023, https:\/\/www.al.com\/news\/2023\/04\/iconic-us-company-tupperware-warns-it-may-shut-down.html<\/a><\/a><\/p>\n

4. <\/span>“The party might be over for Tupperware” Morning Brew, 10 Apr. 2023, https:\/\/www.morningbrew.com\/daily\/stories\/2023\/04\/10\/the-party-might-be-over-for-tupperware<\/a><\/a><\/p>\n

5. <\/span>“Tupperware in financial trouble; investors issue warning” Plastics News, 10 Apr. 2023, https:\/\/www.plasticsnews.com\/news\/tupperware-financial-trouble-investors-issue-warning<\/a><\/a><\/p>\n

6. <\/span>“Tupperware Slumps After Hiring Advisers to Address Concerns About Its Viability” Yahoo Finance, 10 Apr. 2023, https:\/\/finance.yahoo.com\/news\/tupperware-slumps-hiring-advisers-address-135955789.html<\/a><\/a><\/p>\n

7. <\/span>“Tupperware slumps after hiring advisers to address viability concerns” Detroit News, 10 Apr. 2023, https:\/\/www.detroitnews.com\/story\/business\/2023\/04\/10\/tupperware-slumps-after-hiring-advisers-to-address-viability-concerns\/70101325007\/<\/a><\/a><\/p>\n

8. <\/span>“Iconic 77-year-old brand on brink of collapse” news.com.au, 11 Apr. 2023, https:\/\/www.news.com.au\/finance\/business\/retail\/tupperware-company-on-brink-of-collapse-shares-plunge-90\/news-story\/0032aeef97c3799086d6e970eadad45f<\/a><\/a><\/p>\n

9. <\/span>“Tupperware shares plunge as it warns of possible collapse” BBC, 11 Apr. 2023, https:\/\/www.bbc.com\/news\/business-65237293<\/a><\/a><\/p>\n

10. <\/span>“Tupperware\u2019s future uncertain as company warns it could go out of business” WFTV Orlando, 11 Apr. 2023, https:\/\/www.wftv.com\/news\/local\/tupperwares-future-uncertain-company-warns-it-could-go-out-business\/3LRDZ4U5EVDLJKAD3S7EKWD67U<\/a><\/a><\/p>\n

11. <\/span>“Tupperware stock plummets after warning it may go out of business” CBS News, 10 Apr. 2023, https:\/\/www.cbsnews.com\/news\/tupperware-stock-warning-out-of-business-going-concern\/<\/a><\/a><\/p>\n

12. <\/span>“Tupperware: Iconic kitchen brand on brink of collapse” Yahoo Finance Australia, 11 Apr. 2023, https:\/\/au.finance.yahoo.com\/news\/tupperware-iconic-kitchen-brand-on-brink-of-collapse-060825097.html<\/a><\/a><\/p>\n

13. <\/span>“Tupperware May Have a Short Shelf Life” The Motley Fool, 11 Apr. 2023, https:\/\/www.fool.com\/investing\/2023\/04\/10\/tupperware-may-have-a-short-shelf-life\/<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":2857,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2858"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=2858"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/2858\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/2857"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=2858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=2858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=2858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}