Group seemingly on the verge of collapse
The recently revamped management team at US household goods manufacturer Tupperware Brands (Orlando, Florida; www.tupperware.com) led by CEO Laurie Ann Goldman has so far been no more successful than the old one. The company is unable to deliver its annual report for 2023 on time. And that’s not all: “errors and material weaknesses” have been identified in several quarterly reports for 2022. The company now admits that due to the difficult financial situation and the strain on resources, there is “substantial doubt about the company’s ability to continue as a going concern”.

Is the success story of food storage containers over? (Photo: Tupperware)

In the meantime, Tupperware has republished the reports for Q1-Q3 2023 – this time with KPMG as auditor, after long-standing auditor PWC reportedly refused to look at the company’s figures again.

Related: Tupperware Brands in tremendous difficulty

It remains to be seen whether the core business – the sale of food storage containers for households via direct sales – can still prove viable in the future. Rumour has it that the household aids and food storage containers will no longer be sold either at Tupperware parties or in supermarkets.

In October last year, Goldman was called in to lead the group out of its suffering. The previous CEO, Miguel Fernandez – who was brought in together with deputy CEO Rich Goudis in 2020 specifically for a transformation – was replaced after just two years. 
03.04.2024 Plasteurope.com [255014-0]
Published on 03.04.2024
Tupperware: Konzern scheint kurz vor dem Absturz zu stehenGerman version of this article...

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