It's a name that resonates across the planet.
Tupperware, present in 70 countries, could soon go bankrupt.
Known worldwide for its plastic food containers and containers, Tupperware has seen its turnover plunge in recent years: 2.6 billion dollars in 2014;
2 billion in 2018;
1.3 billion in 2022. Consequence: the price of the company fell by 49% on Monday April 10.
The group's share is only worth $1.30 compared to $37 in 2021 and $95 in 2014. Why is the American group experiencing such a drop?
Growing inflation, strong competition and the group's low profile among young people led to a drop in sales.
If the health crisis, confining a good part of the population, had been able to allow the company to regain oxygen, this favorable context had not lasted.
Because the group has a colossal debt - 700 million dollars - and can no longer find cash.
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The company, born in 1946, could therefore go bankrupt as soon as its first quarter accounts are published.
To resolve her difficulties, she discusses with financial investors.
While Tupperware has already reduced the number of production sites, the company plans to reduce its real estate portfolio.
"Tupperware has embarked on a journey to straighten out our operations and marks a critical step in resolving our situation
," company CEO Miguel Fernandez said in a statement.
