The old American home furnishing brand Tupperware has a history of 77 years but has warned that it may close down. Shares of Tupperware plunged 49% on Monday (April 10) after the news was out.
Tupperware Is Looking For Financing
In a filing with regulators on the 7th of April, Tupperware said it has significant doubts about the company's ability to continue operations and is working with financial advisors to find financing to maintain its turnaround, CNN reported.
The company said that if additional funding is unavailable, they will not have enough cash to operate the company.
For now, they may make layoffs and review its real estate portfolio to save money.
The New York Stock Exchange has warned that Tupperware's stock is at risk of delisting due to the company's failure to file required annual reports.
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