Shares in Tupperware have tumbled to their lowest level on record as the iconic food storage company warned investors that it is in danger of going out of business.
The company’s stock price fell by 50 per cent on Monday after the company said in a press release over the holiday weekend that it has hired financial advisors to explore options for the company and to “remediate its doubts regarding its ability to continue as a going concern.”
Shares in Tupperware had been on a downslope for years, as the 77-year-old company’s main business model of selling direct-to-consumers via consumer salespeople fell
