Tupperware Faces Uphill Battle to Avoid Bankruptcy as Sales Plunge and Restructuring Efforts Fall Short
- Tupperware warns it may go out of business within a year due to liquidity problems
- Company has hired new CEO, investment bank, and restructured debt to try to turn business around
- Tupperware cites weak internal controls, challenging finances, staff losses for report delays
- Sales dropped after initial surge during COVID-19 pandemic
- Share price down 33% this year to $1.34
