Summary
TUP Chart
Tupperware scraps sale as rescue deal reached with lenders
Tupperware Brands (NYSE:TUP) has ditched plans to sell off its assets through an auction after reaching a rescue deal with a group of lenders on Tuesday. Lenders including Stonehill Capital Management Partners and Alden Global Capital will buy the kitchen products firm for US$23.5 million (£18.1 million) in cash and more than US$63 million in debt relief.
Tupperware cancels auction, agrees to lender takeover
Bankrupt Tupperware Brands agreed on Tuesday to sell its business to a group of lenders for $23.5 million in cash and over $63 million in debt relief, canceling its plans for an open-market auction of its assets.
Tupperware regains access to cash for upcoming payroll
Tupperware Brands Corporation on Wednesday reached a short-term deal with lenders opposed to its bankruptcy strategy, restoring the food container maker's access to cash accounts and allowing it to meet employee payroll and other upcoming expenses.
Tupperware Brands Corporation Investors
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
| HL Howard Lu FIRST WILSHIRE SECURITIES MANAGEMENT Inc. | 24,000 | $678,594.72 | $598,329.21 | -$80,265.51 | -11.83% |
| NA Nizar Araji National Bank Of Canada /FI/ | 150 | $2 | $2 | - | - |
| ND Nicole Dunderdale Snyder Capital Management LP | 1.29M | $22.39M | $21.93M | -$465,822.96 | -2.08% |
| SR Shantelle Reidy Ironwood Investment Management LLC | 103,750 | $2.43M | $2.43M | - | - |
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Tupperware Brands Corporation Profile
| - Industry | - Sector | Laurie Ann Goldman CEO | NYSE Exchange | 899896104 CUSIP |
| US Country | 6,600 Employees | - Last Dividend | - Last Split | 21 May 1996 IPO Date |
