Shares of consumer products provider Tupperware (NYSE:TUP) are tanking today after the company raised concerns over its ability to continue as a going concern.
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TUP has roped in financial advisors to boost its capital structure and is in talks with potential investors or financing partners as well. The company is also taking a look at its real estate portfolio for potential sale or sale and leaseback deals.
Further, the company’s Form-10K filing has been delayed which can lead to a violation of its credit facility covenant. Additionally, TUP has also received a notice of non-compliance from the New York Stock Exchange due to the delayed filing.
Shares of the company have now tanked nearly 88% over the past year. At the same time short interest in the stock still remains elevated at about 12% at present.
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