Tupperware flags doubts to proceed amid insufficient liquidity

Tupperware flags doubts to proceed amid insufficient liquidity

Tupperware merchandise are supplied on the market at a retail retailer on April 10, 2023 in Chicago, Illinois.

Scott Olson | Getty Photographs

Tupperware Manufacturers flagged doubts concerning the capability to proceed as a going concern for not less than a 12 months and forecast insufficient liquidity to fund operations, the vendor of plastic hermetic meals storage containers mentioned in a submitting with the SEC on Friday.

The corporate, which had earlier delayed its 10K submitting for 2022, additionally filed an NT10-Ok on Friday to inform that it’s going to delay the 10-Ok submitting for FY 2023.

Tupperware blamed ongoing materials weaknesses in inner management over monetary reporting, its difficult monetary situation and vital attrition leading to useful resource and ability set gaps for a number of delays in its annual report filings.

Gross sales have declined in latest quarters following a restoration through the Covid-19 pandemic when customers largely cooked at dwelling and spent extra on the 77-year-old firm’s merchandise to retailer their leftovers.

Authentic information supply Credit score: www.cnbc.com

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