Tupperware Brands Sees ‘Substantial’ Going-Concern Doubt

Tupperware Brands takes action to improve capital structure, liquidity position.

• Engages financial advisers to help remediate doubts about ability to continue as a going concern
• Is in discussions with potential investors or financing partners
• Company “is reviewing its real estate portfolio for property available for potential dispositions or sale-leaseback transactions, and is exploring right-sizing efforts, monetization of fixed assets, cash management, and marketing and channel optimization, to preserve or deliver additional liquidity”
• Violation of credit facility covenants is likely as result of delay in filing 10-K for 2022, as well as cash constraints caused by higher interest costs and timing ...