The American company Tupperware rebounded more than 30% on the stock market this Thursday and has already accumulated three trading sessions in green numbers, after having fallen more than 48% last Monday after acknowledging that there are "substantial doubts" about its ability to continue as going concern for its financial situation.
Specifically, Tupperware shares rebounded 4.84% on Tuesday, 1.54% on Wednesday and, this Thursday, they were already boosting above 30.6%. Thus, its price was around 1.72 dollars (1.55 euros), 0.48 dollars (0.43 euros) above its value on Monday, when the effects of its announcement were seen in its titles. However, the price of this Thursday is still 28.9% lower than that registered by the company last week.
The company reported last Friday the hiring of financial advisers with the aim of gaining access to complementary financing from new investors. Additionally, the firm is reviewing its property portfolio for properties available for potential dispositions or sale-leaseback transactions.
"Tupperware is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate steps to seek additional funding and address our financial situation," said the company's president and CEO, Miguel Fernández.
Due to the internal and external economic challenges of the business, along with the higher levels and costs of borrowing under its credit facility, the company currently anticipates that it may not have adequate liquidity in the near term.
