If you happen to have any Tupperware in your pantry, you may want to hang onto it.
Replacing it may not be such an easy task soon.
The demise of Tupperware — the ubiquitous food-storage container brand that’s been around since the 1940s — appears to be imminent, at least according to regulatory filings from earlier this month.
The filings, which are dated April 3, 2023, are in regard to Tupperware failing to comply with various filings with the Securities and Exchange Commission.
It’s the second section, titled “Other Events,” that contains the grim news.
“In accordance with Accounting Standards Codification (“ASC”) Topic 205-40, Going Concern, the Company evaluates whether there are certain conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern,” the filing reads. “This evaluation includes considerations related to financial and other covenants contained in the Company’s Credit Agreement as well as the Company’s forecasted liquidity.
“As further detailed below, the Company has concluded that there is substantial doubt about its ability to continue as a going concern for at least one year from the expected issuance date of its Form 10-K financial statements.”
China strikes again
Americans are in DEEEP TROUBLE & Substantial Doubt they can Survive !!!!!!