The iconic household plastic container maker Tupperware is looking for new investors, warning otherwise it may not be in business much longer. Stocks in Tupperware took a tumble on Monday after the company announced it is hiring financial advisors because it is unsure about its ability to survive.
Tupperware became a symbol of prosperity after the second world war. The business model was built around in-home sales. In the 1960s and 70s women held Tupperware parties, selling the reusable plastic bowls to family, friends and neighbors. But sales and profits have fallen in recent years although the COVID-19 pandemic saw a temporary surge in success.
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