Tupperware may go out of business Stocks plunged 40% in pre-market trading
FILE = This Aug. 5, 2011 file photo shows some of Kevin Farrell's colorful Tupperware products at a Tupperware party in Bellflower, Calif. Tupperware Brands, on Wednesday, Oct. 28, 2020, posted third quarter profit of $34.4 million, more than quadruple the $7.8 million from the same quarter a year ago.(AP Photo/Garrett Cheen, File) (Garrett Cheen, AP2011)
Your family’s favorite iconic storage-ware could soon be history.
Tupperware is barely staying afloat.
The company said it is looking for financing because it doesn’t have enough cash to fund its operations.
Tupperware is also exploring potential layoffs and reviewing its real estate portfolio.
Stocks plunged 40% Monday in pre-market trading.
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The New York Stock Exchange also warned Tupperware could be de-listed for not filing a required annual report.
The 77-year-old business has struggled to stay relevant and attract younger customers.
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