Tupperware
October 27, 2023
Tupperware Brands Corporation disclosed in a Form 8-K filed October 27, 2023 that PricewaterhouseCoopers LLP informed the company on October 24 that it would not stand for reappointment as independent auditor for the fiscal year ending December 30, 2023. The company said there was no dispute with PwC.
PwC's report on the 2022 financial statements included an explanatory paragraph citing substantial doubt about Tupperware's ability to continue as a going concern. The filing listed as a reportable event the material weaknesses disclosed in the 2022 Form 10-K, which led to the restatement of 2020 and 2021 results and covered accounting for income taxes, leases, intercompany loans, goodwill, account reconciliations and the cash-flow statement.
Tupperware warned that the time needed to evaluate and hire a new auditor would likely further delay its 2023 quarterly reports and its 2023 annual report. If the quarterly reports are not filed by March 31, 2024, the New York Stock Exchange may begin suspension or delisting procedures, the company said.