Tupperware Admits They Doubt They Can Stay In Business

The fate of Tupperware is cloudy. Last week, the storage container company, which was founded in 1946, released a statement saying that the future of their business is uncertain. The company explained that they had hired financial advisors to assist them in securing supplemental financing and is having discussions with potential investors. CEO Miguel Fernandez issued a statement advising that the company is trying to mitigate the impact, but if they don’t see an infusion of cash in the near future, he has substantial doubt about its ability to continue. Following the grim announcement, the company’s shares fell almost 50%. Tupperware is a 77-year-old company that has been a fixture in American home history, the name becoming synonymous with storage food containers.