Tupperware says its current failure to attract younger customers will lead to collapse.
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GUEST – Joseph Busha -founder and Managing Director of JM BUSHA Investment Group
Tupperware, the US maker of food storage containers, has warned that it could go bust unless it can quickly raise new financing.
The 77-year-old firm said there was "substantial doubt about its ability to continue as a going concern".
Tupperware has been attempting to reposition itself to a younger audience but has failed to stop a slide in its sales.
Its shares plunged nearly 50% on Monday before recovering slightly on Tuesday.
The firm became well-known in the 1950s and 1960s when people held "Tupperware parties" in their homes to sell plastic containers for food storage.
Tupperware still employs a direct sales force - who earn a percentage of all the goods they sell - as well as selling goods on its website.
Tupperware, the US maker of food storage containers, has warned that it could go bust unless it can quickly raise new financing.
The 77-year-old firm said there was "substantial doubt about its ability to continue as a going concern".
Tupperware has been attempting to reposition itself to a younger audience but has failed to stop a slide in its sales.
Its shares plunged nearly 50% on Monday before recovering slightly on Tuesday.
The firm became well-known in the 1950s and 1960s when people held "Tupperware parties" in their homes to sell plastic containers for food storage.
Tupperware still employs a direct sales force - who earn a percentage of all the goods they sell - as well as selling goods on its website.
