Tupperware in Crisis, Airtight Container Company Has ‘Over $700 Million in Debt’

Tupperware in Crisis, Airtight Container Company Has ‘Over $700 Million in Debt’

Blizzard ends up in Tupperware. The historic American company of airtight food containers is suffering from a cash crisis and is looking for fresh capital to stay afloat. the…

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It ends with a storm Tupperware. Historical company United States of America Airtight food containers calamity Liquidity and looking for new capital to survive. The headline on Wall Street yesterday lost nearly 50% and today is a 14% rebound even if heavy shadows remain over operations. Management engaged financial advisors to “help improve the capital structure” and clear the area of ​​uncertainty about effective business continuity. The company – Bloomberg reports – bears a religion Approximately $ 700 million and now Tupperware is looking for potential investors or financial partners and is considering placing its real estate assets to increase liquidity.

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Cracow’s shock debt to the restaurant company in Milan’s Galleria. “He lost 4.6 million euros in 5 years.” Increase production costs

revolution

CEO Miguel Fernandez confirmed that Tupperware has “embarked on a path” to revolutionize the company’s business and adjust its capital and liquidity position. “The company is doing all it can to mitigate the effects of recent events – he said – and we are taking immediate steps to obtain additional funding and address our financial situation.”

former

This is not the first time Tupperware has been in trouble, and already in 2020 it has been accused of serious difficulties, revealing how far this business system is out of step with the times. Founded nearly 80 years ago, in 1946 by Earl Tupper, it revolutionized the kitchenware market especially with its airtight containers and bet on customer loyalty with its “meetings at home” formula between friends and vendors. another era. Today, in the era of e-commerce, this system cannot be suggested to the new generations. Hence the decrease in turnover and increase in debt. Not even the agreement with Target’s large-scale distribution network turned things around, and in the latter part of 2022 2022 sales were down 20%.

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