Tupperware flags doubts to continue amid inadequate liquidity

Reuters03-30

March 29 - Tupperware Brands flagged doubts about the ability to continue as a going concern for at least a year and forecast inadequate liquidity to fund operations, the seller of plastic airtight food storage containers said in a filing with the SEC on Friday.

The company, which had earlier delayed its 10K filing for 2022, also filed a NT10-K on Friday to notify that it will delay the 10-K filing for FY 2023.

Tupperware blamed ongoing material weaknesses in internal control over financial reporting, its challenging financial condition and significant attrition resulting in resource and skill set gaps for multiple delays in its annual report filings.

Sales have declined in recent quarters following a recovery during the COVID-19 pandemic when consumers largely cooked at home and spent more on the 77-year old company's products to store their leftovers.

(Reporting by Mehnaz Yasmin and Granth Vanaik in Bengaluru; Editing by Sriraj Kalluvila and Marguerita Choy)

((Granth.Vanaik@thomsonreuters.com; Twitter: ))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2423160064?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-03-30 02:44","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2423160064","market":"us","top_or_hot":-1,"title":"Tupperware flags doubts to continue amid inadequate liquidity","media":"Reuters","content":"<html><body><p>March 29 - Tupperware Brands    flagged doubts about the ability to continue as a going concern for at least a year and forecast inadequate liquidity to fund operations, the seller of plastic airtight food storage containers said in a filing with the SEC on Friday. </p><p>   The company, which had earlier delayed its 10K filing for 2022, also filed a NT10-K on Friday to notify that it will delay the 10-K filing for FY 2023. </p><p>   Tupperware blamed ongoing material weaknesses in internal control over financial reporting, its challenging financial condition and significant attrition resulting in resource and skill set gaps for multiple delays in its annual report filings.</p><p>   Sales have declined in recent quarters following a recovery during the COVID-19 pandemic when consumers largely cooked at home and spent more on the 77-year old company's products to store their leftovers.</p><p> (Reporting by Mehnaz Yasmin and Granth Vanaik in Bengaluru; Editing by Sriraj Kalluvila and Marguerita Choy)</p><p>((Granth.Vanaik@thomsonreuters.com; <a href=\"https://laohu8.com/S/TWTR\">Twitter</a>: ))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tupperware flags doubts to continue amid inadequate liquidity</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTupperware flags doubts to continue amid inadequate liquidity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-30 02:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>March 29 - Tupperware Brands    flagged doubts about the ability to continue as a going concern for at least a year and forecast inadequate liquidity to fund operations, the seller of plastic airtight...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4180","symbol_name":"家用器具与特殊消费品","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2423160064","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2423160064","pubTimestamp":1711737869,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"March 29 - Tupperware Brands    flagged doubts about the ability to continue as a going concern for at least a year and forecast inadequate liquidity to fund operations, the seller of plastic airtight food storage containers said in a filing with the SEC on Friday.    The company, which had earlier delayed its 10K filing for 2022, also filed a NT10-K on Friday to notify that it will delay the 10-K filing for FY 2023.    Tupperware blamed ongoing material weaknesses in internal control over financial reporting, its challenging financial condition and significant attrition resulting in resource and skill set gaps for multiple delays in its annual report filings.   Sales have declined in recent quarters following a recovery during the COVID-19 pandemic when consumers largely cooked at home and spent more on the 77-year old company's products to store their leftovers. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4180":"家用器具与特殊消费品","TUP":"特百惠"},"translate_title":"在流动性不足的情况下，特百惠仍有疑虑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TUP":1},"content_text":"March 29 - Tupperware Brands    flagged doubts about the ability to continue as a going concern for at least a year and forecast inadequate liquidity to fund operations, the seller of plastic airtight food storage containers said in a filing with the SEC on Friday.    The company, which had earlier delayed its 10K filing for 2022, also filed a NT10-K on Friday to notify that it will delay the 10-K filing for FY 2023.    Tupperware blamed ongoing material weaknesses in internal control over financial reporting, its challenging financial condition and significant attrition resulting in resource and skill set gaps for multiple delays in its annual report filings.   Sales have declined in recent quarters following a recovery during the COVID-19 pandemic when consumers largely cooked at home and spent more on the 77-year old company's products to store their leftovers. (Reporting by Mehnaz Yasmin and Granth Vanaik in Bengaluru; Editing by Sriraj Kalluvila and Marguerita Choy)((Granth.Vanaik@thomsonreuters.com; Twitter: ))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2423160064"}