Retail favorite Tupperware surges 50% after debt restructure deal

Tupperware Brands

04/08/2023 10:45

** Tupperware shares  TUP.N  jump 56% to $5.51 premarket 
    ** Home and kitchen product maker finalizes deal to
restructure debt obligations with lenders 
    ** Deal will help co reduce or reallocate about $150 mln of
cash interest and fees, and give it immediate access to a
revolving borrowing capacity of about $21 mln
    ** TUP is #4 in a list of most active U.S. stocks on
StockTwits, a website popular with amateur traders
    ** TUP, which climbed ~14% this week, is the second-most
active stock traded by retail investors this week, as per
J.P.Morgan data 
    ** Co earlier this year raised doubt about its ability to
continue as a going concern but the stock rallied over 430% just
in July as retail investors fueled big gains in several names,
including TUP, Yellow  YELL.O  and American Superconductor
 AMSC.O 

 (Reporting by Sruthi Shankar and Medha Singh)
 ((sruthi.shankar@thomsonreuters.com;))