Tupperware news and press releases
Company announcements, direct sales updates and archived press coverage for Tupperware.
Tupperware news archive
Tupperware Completes Debt Restructuring Extending About 348 Million to 2027
ORLANDO, Fla., Aug. 3, 2023 -- Tupperware Brands Corporation said it finalized a Debt Restructuring Agreement with its lenders effective August 2, 2023, restructuring credit facilities to improve liquidity for its turnaround. The company said the deal provides for reduction or reallocation of about...
Tupperware Flags Insufficient Liquidity for July Interest Payment Despite Debt Waiver
Tupperware Brands Corporation disclosed in a Form 8-K dated July 7, 2023 that on June 30, 2023 it entered a Limited Waiver of Mandatory Prepayment and Payment Deferral Agreement with its lenders. The waiver deferred about 2.5 million dollars, 0.5 million dollars and 2.2 million euros of June 30...
Tupperware Appoints Chief Restructuring Officer, Hires Moelis and Flags Soft Q1 Sales
Tupperware Brands Corporation disclosed in a Form 8-K that on May 4, 2023 it appointed Brian J. Fox of Alvarez & Marsal as chief restructuring officer to help manage liquidity, operational efficiency, working capital and capital expenditures. The company also said it engaged Moelis & Company to...
Tupperware Warns of Going-Concern Doubt, Engages Advisors and Gets NYSE Late-Filing Notice
ORLANDO, Fla., April 7, 2023 -- Tupperware Brands Corporation said there is substantial doubt about its ability to continue as a going concern and that it had engaged financial advisors to help improve its capital structure and liquidity. The company said a Credit Facility covenant violation was...
Tupperware Delays Filing of 2022 Form 10-K Citing Tax Restatement Work
Tupperware Brands Corporation filed a Form 12b-25 on March 16, 2023, notifying the SEC that it could not timely file its Annual Report on Form 10-K for the year ended December 31, 2022, and seeking the standard 15-calendar-day extension. The company said it needed more time to complete the report...
Tupperware Preliminary Fourth Quarter Sales Fall 20 Percent; Flags Tax Restatement and Material Weakness
ORLANDO, Fla., March 1, 2023 -- Tupperware Brands Corporation reported preliminary fourth-quarter 2022 net sales of 313.7 million dollars, down 20 percent year over year, or 14 percent in constant currency. Loss from continuing operations was 35.2 million dollars, or 0.79 dollars per diluted share....
Tupperware Amends Credit Agreement to Loosen Leverage Covenant
Tupperware Brands entered into a second amendment to its credit agreement that raises the maximum net leverage ratio for the fourth quarter of 2022 to 5.25 times from 4.25 times, followed by 4.25 times in the first quarter of 2023 and 3.75 times thereafter. The amendment shortens the facility's...
Tupperware Promotes Hector Lezama to Chief Commercial Officer
Tupperware Brands promoted Hector Lezama to chief commercial officer, giving him oversight of the company's commercial activity worldwide. Lezama joined Tupperware in 2020 as senior vice president of expansion and turnaround markets. The company said the promotion is part of the next chapter of its...
Tupperware Third Quarter Sales Fall 20 Percent; Warns of Going-Concern Doubt
Tupperware Brands reported third-quarter 2022 net sales of 302.8 million dollars, down 20 percent from 376.9 million dollars a year earlier and down 14 percent in constant currency. The company posted a loss from continuing operations of 3.8 million dollars, or 0.09 dollars per diluted share...
Tupperware Launches Nationwide at Target Stores and Online
Tupperware Brands began selling its food storage containers in Target stores nationwide and on Target.com, marking the first time in its history that the 76-year-old brand is sold broadly in a retail store. The assortment includes a variety of container sizes and bundles priced from 7.99 dollars to...