Tupperware, is this the end?

Grab those Tupperware containers people! Is this the end of an era for the well-loved homewares brand Tupperware as they face financial hardship?

Tupperware is seeking potential investors and has engaged with financial experts, facing the risk of collapse if it fails to attract sufficient capital.

“There is substantial doubt about the company’s ability to continue as a going concern,” the company said in a stock exchange filing.

Tupperware has recently received a delisting warning from the New York Stock Exchange after failing to file its annual reports and its share price plunged 50% in one day earlier this week.

Tupperware said it is looking into potential layoffs, to monetise some fixed assets, and is reviewing its real estate portfolio to free up cash.

“The company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position,” said Miguel Fernandez, president and CEO of Tupperware Brands.

The 77-year-old company failed to maintain its performance and has recorded a US$28.4 million loss during the fourth quarter, according to the preliminary results released last month.