Tupperware ( (TUP) ) has provided an update.
Tupperware Brands Corporation, along with its subsidiaries, has initiated Chapter 11 bankruptcy proceedings to restructure its finances while aiming to maintain business operations. The company is seeking court approval for motions that will allow it to operate as “debtors in possession” and continue providing products to customers through various channels. Tupperware is also attempting to minimize the impact on employees, vendors, and other stakeholders by requesting authorization to manage wages, vendor payments, and other operational expenses. The move is expected to affect trading of Tupperware’s securities, with potential significant losses for stockholders, and underscores the speculative nature of trading during the restructuring process.
Learn more about TUP stock on TipRanks’ Stock Analysis page.
