Tupperware Brands is seeking investors to help the company amid talks of the business being delisted from the New York Stock Exchange.
Shares of Tupperware Brands Corp. tumbled nearly 50% on Monday, April 10, 2023 after the company said late last week that it had engaged financial advisors to help it secure financing and remediate its doubts regarding its ability to continue as a going concern. Shares of Tupperware Brands Corp.
The company last week received a non-compliance notice from the NYSE for failing to file its annual results with the Securities and Exchange Commission. Last month’s preliminary results released to investors showed it lost around $35 million in the fourth quarter. Chasen Bender, an analyst with Citi, said Tupperware's creditors appear to be giving the company a 30-day grace period until the 10-K is filed. Bender added that even though the company says it is working toward finalizing the filing, “the path forward appears highly uncertain.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
East New York Family Academy celebrates herstory - New York Amsterdam News“When you educate a woman, you educate a nation.” That African proverb reigns true to this day when we look at our community. Councilmember Charles Barron and his office hosted a closeout for Women’s Herstory Month
Read more »
Tupperware’s stock craters after food-storage company warns it may go bustTupperware Brands Corp.'s stock slid 45% Monday to the lowest level in three years.
Read more »
Breakingviews - Tupperware Brands boxes itself into a cornerTupperware Brands’ options are looking less airtight. The U.S.-based maker of reusable plastic containers, which chemist Earl Tupper founded in 1946 after taking inspiration from the design of paint can lids, cited “substantial doubt” on Friday about its ability to continue as a going concern, sending its share plummeting 48% on Monday. As with other direct selling companies, it casts doubt over its business model, as well as how speedily it can remake itself as consumer habits shift.
Read more »
You can try The New York Times’ new math-based puzzle game right nowYou can try Digits’ beta for free.
Read more »
Ilhan Omar embarks on new path no longer defined by 'firsts' - New York Amsterdam NewsFor Omar, the quick flash of praise from Biden was a recognition of how far Omar has come after a rocky start to her political career that at times made her standing with Democrats appear tenuous.
Read more »