Tupperware stock plunges after warning it could go out of business

[Eugene]

Source: CNN

Tupperware stock plunges after warning it could go out of business

By Jordan Valinsky, CNN
Updated 3:25 PM EDT, Mon April 10, 2023

New York (CNN) — Tupperware shares fell nearly 50% 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.

-snip-

Read more: https://edition.cnn.com/2023/04/10/investing/tupperware-trouble/index.html

[Hugh_Lebowski]

1. That would be sad for a great many of us I'd imagine

Similar to there no longer being an Avon.

[Ahna KneeMoose]

2. Hoping There Is Still Time

For me to reset my supply of Tupperware.

[Throck]

3. My Rubbermaid has far outlasted my Tupperware.

I also have a nice collection of plastic storage containers from my favorite Chinese food place. I'm impressed with the durability for the price. Lots of mileage before it gets recycled. If someone doesn't return it then I don't get upset.

Tupperware more or less priced themselves out of the market. Good quality but cheaper alternates.

[royable]

4. Say it ain't so, Tupper Seal!

I' m still using Tupperware I got from my mom that dates from the 60s and 70s.

[Rhiannon12866]

5. Same here!

[Effete Snob]

6. I thought their business was airtight

[piddyprints]

7. I used to be a Tupperware Lady.

That lasted all of about 2 months. Great product, but even back then, 40 years ago, it was overpriced. Everyone knew I sold it, so my friends avoided me because they didn't want to have parties. Meanwhile, the managers at the meetings shamed us for not having more parties. Then they gave us ways to persuade our friends to have them. Husband doesn't want a party? Have it at a friend's house. Don't have time? Name the time and we'll come. Etc. In other words, no doesn't mean no. I had a big problem with that. Most of the things I bought for demonstrations still sit empty in my upper cabinets. They just weren't necessary.

No, I won't cry crocodile tears if they go out of business. There are other options.

[samplegirl]

8. I had a party

for a friend. Did it online. Sold over 500.00 of Tupperware for her and I still owed her a 100.00 for the few things I got.
I got nothing free so to speak.
I like glass to store because I can reheat whatever I have it in.
So I don’t use my Tupperware all that much.
I use the cheap stuff to give food in.
Yes they did price themselves out of business.

[bucolic_frolic]

9. Pyramid or multi-level marketing

It's been tried with everything. Amway, vitamins, knives, phone service, heating, electric. Get in the customers' heads and stay there!