The Iconic Brand “Tupperware” can go Out of Business, Doubt Over its Growth
ORLANDO, Fla., April 11, 2023 ― Leading global consumer products company Tupperware warned that the company could be going out of business due to unsustainable growth and cash crunch.
In a regulatory filing Tupperware said that it has engaged with financial advisors to find financing to keep the company in business.
Further it said, due to the challenging internal and external business economics, coupled with the increased levels and cost of borrowings under its Credit Facility, the Company currently forecasts that, if it is unable to obtain adequate capital resources or amendments to its Credit Agreement, it may not have adequate liquidity in the near term. As a result, the Company has concluded there is substantial doubt about its ability to continue as a going concern. This goin...