Tupperware signs forbearance agreement with lenders; shares edge up

Tupperware Brands

16/02/2024 23:35

** Shares of home and kitchen products maker Tupperware
 TUP.N  up 1.3% at $1.45 in extended trade
    ** Co says entered into forbearance agreement with its
lenders
    ** Forbearance deal reduces co's weekly minimum U.S.
liquidity requirement under credit agreement to $10 mln
    ** TUP says it has secured financial flexibility to continue
executing its business strategy transformation plan
    ** Adds it is continuing to work closely with financial
advisors to explore strategic alternatives
    ** Stock fell ~51% in 2023

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))