Tupperware Brands Corp., the household storage brand, has brought on advisers from Moelis & Co., Kirkland & Ellis LLP and Alvarez & Marsal while warning of a possible bankruptcy, WSJ Pro Bankruptcy reported. The Orlando, Fla.-based company warned this week that it may not be able to continue as a going concern and that it is exploring options for boosting liquidity, including raising financing from investors and selling its real-estate holdings. In addition to investment bank Moelis & Co. and law firm Kirkland & Ellis LLP, the company has been working with turnaround adviser Alvarez & Marsal, people familiar with the matter said. Bloomberg earlier reported the hiring of Moelis and Kirkland. “Like other companies that have been impacted by the pandemic, inflation and high-interest rates, we are working with our financial advisers to improve our capital structure,” a spokesperson for the company said. Tupperware said earlier this week that it has been squeezed by higher interest costs and challenging internal and external business conditions that have constrained its access to cash. Tupperware’s senior loans traded at 51.75 cents on the dollar on Tuesday, according to Markit.
