Tupperware Corp. (TUP) has released an update.
Tupperware Brands Corporation has entered into a Forbearance Agreement with its lenders, granting the company relief from certain defaults and allowing it to continue accessing credit facilities while pursuing its global business strategy transformation. The agreement eases some repayment obligations and reporting requirements, giving the company until June 30, 2024, to meet specific conditions. Additionally, Tupperware has regained compliance with certain New York Stock Exchange listing standards, though it remains noncompliant in other areas, which could potentially lead to delisting. The company is also exploring strategic alternatives to enhance its financial position and future prospects.
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