TUP Stock Recent News

Tupperware Brands Corp.'s stock TUP, +35.51% is down 6.7% in premarket trades Monday, pulling back after ending Friday's session up 35.5%. The surge in Tupperware's shares was fueled by a debt restructuring agreement announced after market close Thursday.

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The food storage specialist secured a debt restructuring deal with creditors. Among other agreements, those lenders will provide immediate access to a revolving credit facility.

Tupperware announced that it struck a debt restructuring deal, causing a stock surge that began in after-hours trading on Thursday and sent share prices soaring as much as 55.96% as of Friday morning.

Tupperware (NYSE: TUP ) stock is soaring more than 40% higher after the company announced that it had entered into a debt restructuring agreement with its lenders. Among other changes, the agreement calls for a maturity extension of $348 million in principal and reallocated interest and fees to 2027 with paid-in-kind (PIK) interest, the reduction or reallocation of $150 million in cash interest and fees, a 2025 amortization payment reduction of $55 million and instant access to a $21 million revolving line of credit.

Tupperware was left for dead; a relic of a lost time when leftovers storage had but one dominant market player. So why is its stock up 47% today?

Tupperware Brands (NYSE:TUP) soared following last night's afterhours news of a debt-deal, which management believe allows sufficient financial flexibility to allow its turnaround plan to continue. The plastic container company secured the deal to extend maturity of US$348 million of principal, out to 2027, and allowed US$150 million of interest to be re-allocated into payment-in-kind interest, and, got access to US$21 million of revolving borrowing.

Tupperware Brands (NYSE: TUP ) stock is up on Friday after the plastic storage bin company announced a debt restructuring agreement. According to a press release from Tupperware Brands, the company has signed an agreement with debtholders to extend its maturity dates and retire certain debts.

Tupperware Brands Corp.'s TUP, -4.09% second-quarter report will be filed late, the beleaguered maker of iconic food containers said Thursday. In an SEC filing, Tupperware explained that it is unable to file its report for the quarter ended July 1 by the prescribed due date.

Meme-stocks are making a comeback as investors send shares of troubled companies higher. Tupperware and Yellow have both seen their share prices surge by more than 800% over the past week.