The Daily Money: Putting a lid on Tupperware? Company says it may be going out of business
It’s Bailey Schulz here to bring you Tuesday’s top headlines.
Tupperware, the storage container brand founded back in 1946, could be going out of business.
The company’s sales have been trending downward over the years, with analysts noting that the brand has struggled to connect with younger customers.
Tupperware has also gotten into trouble over its regulatory filings. The company is at risk of being de-listed from the New York Stock Exchange after failing to file its annual 2022 report, and investors have sued the company for including misstatements and failing to disclose “serious issues with internal controls” in its 2020 report.
The company said there is “substantial doubt” about its ability to continue and has started working with financial advisors to try to find financing to keep the company afloat.
Tupperware said it is reviewing several aspects of its company, including cash management, real estate portfolio for property available and possible layoffs.
FBI: Avoid public phone charging stations
You might want to think twice before plugging in your phone to charge at the airport.
The FBI recently warned against using free public charging stations that use USB ports, noting that hackers can use the connection to transmit malware onto smartphones that can lock a device or export personal data and passwords.
The Federal Communications Commission says consumers should use an AC power outlet, bring their own USB cable when they travel and carry a portable charger or external battery.
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🍔 Today's Menu 🍔
Lettuce and salad kits sold under multiple brand names are being recalled due to possible health risks from Listeria monocytogenes, a bacteria that can cause a disease called listeriosis that leads to about 260 deaths each year. Senior citizens, pregnant people, newborns and people with weakened immune systems are the most at risk.
Recalled brands include:
- All products sold under the Revolution Farms brand
- Select "Fresh From Meijer" premade salads
- Three already-expired salad kit products from Fresh Express
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.