Tupperware Brands recently issued a warning that the iconic company, with a 77-year history, may not survive another year. In a filing with the Securities and Exchange Commission (SEC) on Friday, the seller of plastic airtight food storage containers revealed its forecast of inadequate liquidity to fund operations.
This is not the first time Tupperware has raised doubt regarding its ability to continue as a going concern. Nearly a year ago, the company expressed concerns over its future sustainability.
In response to these challenges, Tupperware made significant changes to its leadership and financial strategy. The company appointed Laurie Ann Goldman, a consumer goods industry veteran, as its new CEO. They also enlisted the services of investment bank Moelis & Co LLC to explore strategic alternatives and successfully negotiated an agreement with lenders to restructure debt obligations.
