ORLANDO,
Fla., April 19, 2024 /PRNewswire/ -- Tupperware
Brands Corporation (NYSE: TUP) (the "Company") announced today the
status of its filing of its 2023 financial statements.
Following the Company's engagement of its new auditor, KPMG LLP, in
late January 2024, the Company became
current in the filing of its quarterly financial statements for the
first three quarters of 2023, on March 29,
2024. The Company is currently working to complete the
preparation, audit and filing of its full-year 2023 financials in
its Annual Report on Form 10-K for the fiscal year ended
December 30, 2023 (the "Form 10-K"),
which was initially due on March 29,
2024, but which the Company previously announced would be
delayed.
As expected, the Company received a notice (the "NYSE Notice")
from the New York Stock Exchange (the "NYSE") on April 16, 2024 indicating the Company is not in
compliance with Section 802.01E of the NYSE Listed Company Manual
because the Company has not timely filed its Form 10-K with the
Securities and Exchange Commission (the "SEC"). The NYSE
Notice has no immediate effect on the listing of the Company's
common stock on the NYSE. The NYSE informed the Company that the
Company will have six months from March 29, 2024 to file the
Form 10-K with the SEC to regain compliance with this NYSE
continued listing standard. If the Company fails to file the Form
10-K within the six-month period, then the NYSE may, in its sole
discretion, grant a further extension of up to six additional
months for the Company to regain compliance, depending on the
specific circumstances.
As previously disclosed in its Notification of Late Filing on
Form 12b-25 filed by the Company with the SEC on March 29, 2024, the Company requires additional
time to file the Form 10-K due to the above discussed delay in
filing its quarterly financials, its ongoing material weaknesses in
internal control over financial reporting, additional accounting
and auditing procedures related to the Form 10-K, and as a result
of attrition in its accounting function. The Company is
working diligently to complete the necessary work to file the Form
10-K as soon as practicable and currently expects to be able to
file the Form 10-K within the six-month period granted by the NYSE
Notice.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including the Company's ability to regain compliance with the
NYSE's continued listing standards and the Company's ability to
file its annual report on Form 10-K for the fiscal year ended
December 30, 2023. Such forward
looking statements are based on assumptions about many important
factors, including the following, which could cause actual results
to differ materially from those in the forward-looking statements:
whether and when the Company can complete its consolidated
financial statements and related disclosures for the 2023 fiscal
year, whether and when its independent registered public accounting
firm can complete its audit, and other risks identified in the
Company's most recent filing on Form 10-K and other SEC filings,
all of which are available on the Company's website. The Company
does not intend to update forward-looking information unless
otherwise required by law.
About Tupperware
Tupperware Brands Corporation (NYSE: TUP), the company that
invented a solution to food waste, empowers female entrepreneurship
through social selling and made the home party famous, is as
relevant today as when it was founded in 1946. Tupperware is a
leading designer, manufacturer, and distributor of authentic,
high-quality and ingeniously innovative products that people love
and trust. The Tupperware® brand became a part of the fabric of
Americana and is now famous around the globe.
For more information, visit Tupperwarebrands.com, or follow the
Company on Facebook, Instagram, LinkedIn and Twitter.
Media Contact:
Tammy Snook Quezada
media@tupperware.com
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SOURCE Tupperware Brands Corporation