A filing with the Securities and Exchange Commission (SEC) reveals Tupperware Brands has brought in Alvarez & Marsal North America, LLC to help the company with a restructuring. This has A&M managing director Brian Fox taking on the role of Chief Restructuring Officer at Tupperware.
Fox brings with him a more than 30-year career in financial advisory, operational improvement, and interim management. That includes helping companies reorganize their businesses both inside and outside of bankruptcy.
To go along with this news, Tupperware has retained Moelis & Company LLC to help it explore strategic options. That includes improving liquidity and capital structure, as well as other potential strategic transactions.
How This Affects TUP Stock
Investors are rattled by the idea of Tupperware exploring strategic alternatives. That’s typically not a good sign for a company as it means it’s seeking out help in any way it can. That could include more investment rounds or even bankruptcy and asset sales.
With that in mind, shares of TUP stock aren’t seeing much trading today as only about 300,000 shares change hands. The company’s daily average trading volume is well above that at 2.1 million shares.
TUP stock is down 8.3% as of Monday morning.
There’s more stock market news traders will want to know about below!
We’ve got the biggest stock market stories investors need to know about on Monday! That includes everything happening with shares of Aptorum (NASDAQ:APM), Immuron (NASDAQ:IMRN), and Bellicum Pharmaceuticals (NASDAQ:BLCM) stock today. You can read up on all that news at the following links!
More Monday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.