New York CNN —
Tupperware shares fell nearly 40% in early trading Monday following a bleak warning that its future is looking murky.
In a regulatory filing late Friday, the container maker said there’s “substantial doubt about the company’s ability to continue as a going concern,” and that it’s working with financial advisers to find financing to stay afloat.
Tupperware said it won’t have enough cash to fund its operations if it doesn’t secure additional money. The company said it is exploring potential layoffs, and it’s reviewing its real estate portfolio for potential money-saving efforts.
The New York Stock Exchange also warned that Tupperware’s stock is in danger of being de-listed for not filing a required annual report.
“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our…
2023-04-10 09:17:42
Source from www.cnn.com