Tupperware
October 10, 2023
Tupperware Brands Corporation disclosed in a Form 8-K filed October 10, 2023 that the New York Stock Exchange's Listings Operations Committee on October 3 approved its request for an additional six-month cure period, giving the company until March 31, 2024 to file its delayed 2022 Form 10-K and its 2023 quarterly reports. The exchange said it would closely monitor interim milestones, warned that missing them could bring an accelerated trading suspension and said it may begin suspension and delisting procedures if the filings are not made by the deadline.
The company also entered a Fifth Amendment to its credit agreement with lenders led by Wells Fargo on October 5. The amendment moved the deadline for audited 2022 financial statements to November 1, 2023, pushed deadlines for the 2023 quarterly statements into December 2023 through March 2024, delayed delivery of a required turnaround plan to December 29, 2023 and adjusted cash-holding and prepayment terms tied to an expected Indonesian tax refund.
Separately, Executive Vice Chair and director Richard Goudis told the company on October 6 that he would resign from his officer and board positions after the 2022 Form 10-K was filed. Tupperware said his departure was not due to any disagreement and that additional board composition changes were likely to follow.