Tupperware Warns Of Collapse Unless It Finds Funds

[Toro]

I didn't know that company was still around.

 

[initforme]

It's all junk.

 

[Rambunctious]

A product that used home party's with 10 to 20 women in a living room was sure to die during covid....

 

[Ray From Cleveland]

It's all junk.

I have a shelf full of Tupperware. It's lasted me most of my adult life.

 

[Rambunctious]

I have a shelf full of Tupperware. It's lasted me most of my adult life.

I have a huge cabinet full of my late Mothers Tupperware and use something from it almost every day even if its Ice Tea or Lemonade....

 

[Ray From Cleveland]

I have a huge cabinet full of my late Mothers Tupperware and use something from it almost every day even if its Ice Tea or Lemonade....

I have no complaints about the product. My dishwasher beat the hell out of the stuff and it still works as good as the day I bought it.

 

[Rambunctious]

I have no complaints about the product. My dishwasher beat the hell out of the stuff and it still works as good as the day I bought it.

Yep I still use the covered bowl for popcorn I used as a teenager....

 

[CrusaderFrank]

A lot of commercial loans are coming due and will require refinancing. During the Fed's era of free money (2009 - 2020), American households, state and federal governments, and corporations run up astronomical sums of debt.

Now the piper is coming for his due.

At the front of the queue is Tupperware. High interest rates and low customer demand are pushing that grand old company toward the cliff of oblivion.

Tupperware warns of collapse unless it finds funds

The 77-year-old food storage business is facing a bleak future as it races to secure new financing.

www.bbc.com

Tupperware, the US maker of food storage containers, has warned that it could go bust unless it can quickly raise new financing.

The 77-year-old firm said there was "substantial doubt about its ability to continue as a going concern".

Tupperware has been attempting to reposition itself to a younger audience but has failed to stop a slide in its sales.

Its shares plunged nearly 50% on Monday before recovering slightly on Tuesday.

The firm became well-known in the 1950s and 1960s when people held "Tupperware parties" in their homes to sell plastic containers for food storage.


A bit of American history, that last sentence.



In a statement, Tupperware said that its shares were in danger of being delisted from the New York Stock Exchange because it had not yet filed its annual report.

It also warned that it had to renegotiate its loans after already amending its loan agreements three times since August 2022.

Tupperware said it was struggling with higher interest costs on its borrowings while it attempts to turn the business around.



A damned shame.

Tupperware warns of collapse unless it finds funds

The 77-year-old food storage business is facing a bleak future as it races to secure new financing.

www.bbc.com

Dylan Mulvaney for Tupperware

Tupperware has better suction than me!

 

[RoshawnMarkwees]

Tupperware, like Avon, was, in its day, a clever marketing idea. Connecting friends with products in a social setting, was effective in days when shopping was less convenient.

However, putting on a nice dress and getting your hair done to buy cheap, plastic, bowls from China is probably not a millennial marketing strategy.

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Nowadays they use that strategy to recruit voters for Wisconsin Supreme Court elections.