Tupperware, the iconic food storage brand, is facing financial difficulties and may have to close up shop. The company has hired advisers to help turn around the company, and is now working to restructure its debt and find a way to stay in business. Tupperware is urging its customers to continue to support the brand as it works to remain viable.
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Tupperware, the iconic kitchenware brand, is warning of potential bankruptcy as it struggles to stay afloat amid the pandemic. The company is exploring potential layoffs, as well as reviewing its real estate portfolio for potential money-saving efforts. Shares of the direct marketing company plunged 50% after the securities filing, and Tupperware is now in a race against time to secure additional financing and avoid bankruptcy.