If you’ve grown up in a South African home, you know the staple item in any mother’s cupboard is her beloved Tupperware. Picture: Supplied
Tupperware Southern Africa says the current financial crisis affecting the global company does not impact on sales teams.
This week, the company announced facing collapse following a dip in sales.
The BBC reported that the 77-year-old company is struggling to appeal to a younger market.
The firm announced on Monday that its shares dipped by nearly 50%.
Tupperware announced a delay in the filing of its annual report.
According to Tupperware Southern Africa's letter, the annual report is required by law for any publicly traded company. Tupperware said its working with audit teams to file as soon as possible.
It said additionally, Tupperware disclosed that they are working with third-party financial advisers to review and improve current capital structure.
"What this means is that we are doing everything we can to ensure our financial foundation is solid in order to continue moving forward with our business transformation," the company said.
"Please note that this situation has no impact on how we conduct business with you today! In fact, we will continue to deliver new products entering our new product categories, to keep bringing you the durable, quality and innovative products that the Tupperware brand is known and loved for. We remain focused too, on continuing to deliver on the service and tools you expect in order to grow your Tupperware business," Tupperware Southern Africa said.
It added that the issues are primarily historical accounting issues they are working through with additional outside advisers to support its global transformation and to shore up long-term financial structure.
"We encourage you to remain focused on building your teams and selling Tupperware products to help your customers reduce their food and single-use plastic waste," Tupperware Southern Africa said.
Tupperware Southern Africa has further advised sellers to contact their regional sales managers if they had any further questions.
IOL
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