Tupperware warns of possible collapse

THE party could be over for Tupperware as the maker of food storage containers warned it could go bust without urgent financing.

- Chris Riches

The US firm has been attempting to reposition itself to a younger audience but the strategy has failed to stop a continuing slide in sales.

On Monday it said there was "substantial doubt about its ability to continue as a going concern".

Investment

The company said it was struggling with higher interest costs on borrowings while trying to turn its fortunes around.

Shares in the 77-year-old firm almost halved in value after it revealed it was in danger.