Tupperware Struggles to Remain Viable as Financial Difficulties Mount

Tupperware, the iconic food storage brand, has announced that it may have to close up shop due to financial difficulties. In a release dated April 7, the Orlando-based company said it was seeking to improve its capital structure in order to “remediate its doubts regarding its ability to continue as a going concern.” The same day, Tupperware issued a going-concern notice after warning it could be heading for a default if its lenders demand payment for maintaining access to the company’s main line of credit.

The company said it had “substantial doubt about its ability to continue as a going concern” in a press release and securities filing. Tupperware has hired advisers to help turn around the company, and will likely renege on some of its debt, citing in part “cash constraints caused by higher interest costs.”

Tupperware’s financial struggles come just three years after the retro brand enjoyed a surprise surge from legions of pandemic shut-ins trying their hand at cooking. The company has been a household name since its founding in 1946, and has become a symbol of the American kitchen.

Tupperware is now working to restructure its debt and find a way to stay in business. The company has not yet announced any specific plans, but is hopeful that it can find a way to remain viable. In the meantime, the company is urging its customers to continue to support the brand.