Tupperware on the ropes
Tupperware Southern Africa says the current financial crisis affecting the global company does not impact on sales teams.
IoL reports that the company this week announced that it is facing collapse following a dip in sales. The 77-year-old company is struggling to appeal to a younger market and its shares have dipped by nearly 50%.
Tupperware announced a delay in the filing of its annual report.
According to Tupperware Southern Africa's letter, the annual report is required by law for any publicly traded company.
Tupperware said it is working with audit teams to file as soon as possible.
In addition, it disclosed that they are working with third-party financial advisers to review and improve current capital structure.
‘What this means is that we are doing everything we can to ensure our financial foundation is solid in order to continue moving forward with our business transformation,’ the company said.
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