Apr 11, 2023 - Economy & Business
Tupperware issues another warning that it may go out of business
- Hope King, author of Axios Closer
Tupperware's future is anything but sealed.
Driving the news: The company's stock closed down almost 49% Monday to $1.24 following its announcement last week that it could go out of business — its second "going concern" warning in less than six months.
The latest: The company has tapped investment bank Moelis & Co. and Chicago-based law firm Kirkland & Ellis to look into options for its nearly $700 million in long-term debt, according to Bloomberg.
The big picture: The nearly 80-year-old brand has struggled to attract customers amid its latest reinvention, which includes selling products through Amazon and Target and expanding beyond containers to include cooking gadgets.
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