Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent&nbsp;on Monday (April 10).

The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat.

Tupperware claimed that if it doesn't obtain extra funding, company won't have enough cash to support its operations. According to the corporation, it is looking into possible layoffs and assessing its real estate holdings for potential cost-saving measures.

The New York Stock Exchange also issued a warning that Tupperware's stock may be delisted for failing to submit the necessary annual report, reported CNN.

“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” CEO Miguel Fernandez said in a press release. “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.”

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/fall-of-credit-suisse-not-a-fall-of-switzerland-says-president-581388">Fall of Credit Suisse not a fall of Switzerland, says president</a>

The 77-year-old company has had difficulty staying competitive with rivals in recent years. With newer and trendier products, it has been attempting to shed its stuffy reputation and draw in new customers. It also reached a sales agreement with Target last year.

Neil Saunders, retail analyst and managing director at GlobalData Retail who spoke to CNN,&nbsp;claims that Tupperware is suffering from a "sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers."

“The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge,” he said.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/a-year-after-crisis-sri-lanka-grants-3-foreign-oil-companies-to-sell-fuel-581267">A year after crisis, Sri Lanka allows 3 foreign oil companies to sell fuel</a>

The move into Target, according to Tupperware (TUP), is a part of the brand's reinvention, which also includes efforts to expand through various retail channels and expose its products to younger consumers who have never even heard of Tupperware (TUP) parties.

However, that hasn't worked out so far because shares have fallen 90 per cent&nbsp;in the last year. In November, it again issued a "going concern" alert.

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent on Monday (April 10). The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat.

Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent on Monday (April 10). The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat. Tupperware claimed that if it doesn't obtain extra funding, company won't have enough cash to support its operations. According to the corporation, it is looking into possible layoffs and assessing its real estate holdings for potential cost-saving measures. The New York Stock Exchange also issued a warning that Tupperware's stock may be delisted for failing to submit the necessary annual report, reported CNN. “Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” CEO Miguel Fernandez said in a press release. “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.” ALSO READ | Fall of Credit Suisse not a fall of Switzerland, says president The 77-year-old company has had difficulty staying competitive with rivals in recent years. With newer and trendier products, it has been attempting to shed its stuffy reputation and draw in new customers. It also reached a sales agreement with Target last year. Neil Saunders, retail analyst and managing director at GlobalData Retail who spoke to CNN, claims that Tupperware is suffering from a "sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers." “The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge,” he said. ALSO READ | A year after crisis, Sri Lanka allows 3 foreign oil companies to sell fuel The move into Target, according to Tupperware (TUP), is a part of the brand's reinvention, which also includes efforts to expand through various retail channels and expose its products to younger consumers who have never even heard of Tupperware (TUP) parties. However, that hasn't worked out so far because shares have fallen 90 per cent in the last year. In November, it again issued a "going concern" alert. WATCH WION LIVE HERE:

Tupperware in trouble? Company stock dips after warning it may go out of business

The container ship that blocked the Suez Canal in March and has been detained there since is due to finally resume its journey on Wednesday after the owner and insurers reached a compensation settlement with the canal authority. 
 
One of the world's largest container ships, the Ever Given became wedged diagonally across a single-lane stretch of the canal for six days, disrupting global trade. 
 
The Suez Canal Authority (SCA) demanded more than $900 million in compensation for the salvage operation and other losses, later lowered to $550 million. It held the ship under court order as it pursued the claim, creating a dispute with the ship's insurers and Japanese owner Shoei Kisen. 
 
The ship and its Indian crew have been anchored for more than three months in the Great Bitter Lake, between two stretches of the canal. 
 
After protracted negotiations, an undisclosed settlement between the parties was reached and the SCA announced that the ship would be released on Wednesday. 
 
A ceremony is due to be held at the canal to mark the departure of the vessel, which is loaded with about 18,300 containers. 
 
Canal sources said the Ever Given will be escorted by two tugboats and guided by two experienced pilots.

The container ship that blocked the Suez Canal in March and has been detained there since is due to finally resume its journey on Wednesday after the owner and insurers reached a compensation settlement with the canal authority.

The container ship that blocked the Suez Canal in March and has been detained there since is due to finally resume its journey on Wednesday after the owner and insurers reached a compensation settlement with the canal authority. One of the world's largest container ships, the Ever Given became wedged diagonally across a single-lane stretch of the canal for six days, disrupting global trade. The Suez Canal Authority (SCA) demanded more than $900 million in compensation for the salvage operation and other losses, later lowered to $550 million. It held the ship under court order as it pursued the claim, creating a dispute with the ship's insurers and Japanese owner Shoei Kisen. The ship and its Indian crew have been anchored for more than three months in the Great Bitter Lake, between two stretches of the canal. After protracted negotiations, an undisclosed settlement between the parties was reached and the SCA announced that the ship would be released on Wednesday. A ceremony is due to be held at the canal to mark the departure of the vessel, which is loaded with about 18,300 containers. Canal sources said the Ever Given will be escorted by two tugboats and guided by two experienced pilots.

Ever Given container ship set to leave Suez Canal

A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade.

World Business Watch: Global supply lines struggle to clear container backlog after Suez Canal chaos

container

Container, News on Container, stories on Container, articles on Container, Container stories at Wion, Container news, Container latest news