Global company dedicated to the sale and distribution of plastic containers could declare bankruptcy

The share price of the famous American manufacturer of plastic containers for Tupperware food was suspended on Tuesday on Wall Street, after the Bloomberg agency reported a possible bankruptcy of the firm.

Financial problem

On Monday, the shares lost 57.51% in a single day after the news broke that the Orlando group (Florida, southeast) could file for bankruptcy this week.
Contacted by AFP, Tupperware has not yet responded.

He New York Stock Exchangethe stock exchange on which the manufacturer’s shares are listed, declined to comment on the reasons for suspending trading.

Background

In mid-August, the group said it was still “facing significant liquidity problems” and had “doubts about its ability to continue its activity.”

Tupperware has been dealing with several hundred million dollars of debt for years and has already restructured its liabilities once, in 2020.

The group has not published its accounts since 2022. In that year, its turnover fell to $1.3 billion, 42% less than five years earlier.

Launched in 1946, Tupperware became a global company through home delivery.

Bag

The New York Stock Exchange opened higher on Tuesday, awaiting the Federal Reserve meeting (Fed, central bank) which is expected to decide on a rate cut.

In early trading, the Dow Jones index gained 0.13%, the Nasdaq technology index gained 0.81% and the broader S&P 500 index gained 0.41%.

I graduated with a degree in Communication Sciences from the Universidad Autónoma de Occidente (UAdeO), with an emphasis on mass media. I currently have six years of experience in news media, web portals, content development for social networks, radio, live television, and local and state print newspapers. I joined the printed newspaper Vivavoz in the municipality of Culiacán as a local reporter in 2015. Later, I wrote different news and research content for the state weekly NN Noticias Sinaloa, for a period of three years, followed by my entry into the live television news program De Vivavoz, as well as collaborating with news notes for the radio edition of the same company, which is broadcast daily. Likewise, I have managed the web pages of each of the media in which I have worked, and I am currently a reporter for the Local section of the newspaper EL DEBATE DE CULIACÁN, which I joined in 2019.

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