Tupperware
July 18, 2024
Tupperware Brands Corporation said that on July 12, 2024 it signed a Second Amendment to Forbearance Agreement with lenders under its 2021 credit agreement, giving the struggling housewares company more time to meet repayment milestones.
The amendment extends both the compliance period for the forbearance milestones and the forbearance termination date from July 14, 2024 to August 15, 2024, unless the agreement ends earlier under its terms. It also adds an interim milestone requiring Tupperware to deliver one or more letters of intent for a repayment transaction by July 31, 2024.
Tupperware has been operating under the forbearance agreement since February 2024 while it pursues financing and a strategic turnaround amid going-concern doubts.