Tupperware May Go Out Of Business!
Tupperware parties may be a thing of the past.
This is sad news for a company that has been helping to keep our leftovers fresh for 77 years.
It was just three years ago, that the brand saw a massive surge in sales due to the pandemic when everyone was home cooking.
Fast forward to today as life gets back to normal, and the fact that people have become more environmentally aware of their plastic usage- it looks like Tupperware could soon be recycled forever.
The Orlando-based company said it had "substantial doubt about its ability to continue as a going concern" in a press release and securities filing.
Shares of the direct marketing company plunged 50% after the securities filing, to $1.22 a share. Its stock is down 70% this year.
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