Log #29: Don't Let Tupperware Go Out of Business

As a lover of domestic items, I personally think there are some things in the world that should never be removed from our everyday lives. This is one prime example. 

After 77 years in business, the food storage brand Tupperware is at risk of shutting down. The company announced it was seeking to improve its capital structure in order to "remediate its doubts regarding its ability to continue as a going concern." 

That same day, Tupperware issued a going-concern notice after warning that the company might be at risk of closing its doors for good. 

“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” Miguel Fernandez, president, and chief executive officer of Tupperware Brands, said in the April 7 statement. “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.

Sadly, things got worse after this public statement. When it was announced that the company might go out of business, Tupperware stock dropped by nearly 50%. Talk about adding fuel to the fire.

My partner and I are personal users of Tupperware products. We sometimes cook three times a week, but if we're very busy, we make a meal that is large enough to last a few days. Due to my freelance career, I'm booked with gigs that require me to be outside for long periods of time. Whether it's working as a brand ambassador or a delivery biker for Uber Eats, I always bring a Tupperware with me in order to have it me everywhere I go.

So I personally don't understand why the common interest in these products is starting to plunge. Everyone needs things in their lives. It's an effective tool with limitless qualities.

In conclusion, we need to band together and start buying more Tupperware. Let's go to the store, pick these things up, open our wallets, and let's keep the company in business. This American-built home product was created by the late Earl Tupper back in 1946, and I personally want to see this iconic business celebrate its 100th anniversary in 2046. I'll be first in line to be part of the celebration. In the meantime, let's do our part and keep this bad boy of a product alive.