Legendary food storage brand Tupperware has hired advisors to help turn around the company after notifying regulators it may have to close up shop.
, it lost $28.4 million in its most recent quarter amid higher costs, inflationary pressures and lower sales.
Now, the company says it is exploring all options to regain its financial footing, including accessing new lines of credit, tapping new investors, selling some of its real estate and further cost-cutting. “Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” Miguel Fernandez, president and chief executive officer of Tupperware Brands, said in the April 7 statement. “The Company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.
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