FILE - Tupperware items rest on a table during a Tupperware party in Sebastian, Florida, on Wednesday, May 18, 2022. (Stephen M. Dowell/Orlando Sentinel/Tribune News Service via Getty Images)
Tupperware Brands is shuttering its last remaining manufacturing plant in the U.S. and moving operations to Mexico, costing more than 100 workers their jobs.
The iconic food storage container maker issued a WARN Notice last week alerting that it plans to permanently close its facility in Hemingway, South Carolina, laying off 148 people.
The notice said layoffs will begin in September, with final closure of the plant set for January 2025.
Tupperware said in a statement that it sold the Hemingway plant last year and plans to transition operations to Lerma, Mexico, noting that most of its products sold in the U.S. and Canada are already made at that plant.
BOEING EMPLOYEES' SAFETY, QUALITY CONCERNS SURGE DRAMATICALLY IN WAKE OF INCIDENTS AS DEADLINE LOOMS
"It’s important to note this decision is not a reflection of the performance of the Hemingway team," Tupperware said in the statement. "We appreciate each of our valued team members and the many years of service they have dedicated to our salesforce and to the Company."
This browser does not support the Video element.
Tupperware stock continues to surge
Tupperware Brands said it has finalized an agreement with its lenders to restructure its debt obligations in an effort to turnaround its business, sending its shares soaring. The food storage container manufacturer has now seen increases of 700%+ over the last two weeks. LiveNOW's Andrew Craft spoke with James Rogers from MarketWatch about Tupperware's stock and why its seeing such massive increases. More LiveNOW from FOX streaming video
The statement added that eligible employees impacted by the layoffs will be offered severance packages and early retirement, as well as the opportunity to connect with other businesses at an upcoming job fair.
Tupperware, based in Orlando, Florida, has faced a series of struggles in recent years.
EPA SUED BY CONSUMERS, MANUFACTURING, AGRICULTURAL COALITIONS OVER NEW VEHICLE EMISSIONS STANDARDS
In 2020, the company initiated a turnaround plan and has been trying to execute goals including improving profitability, strengthening its balance sheet and restructuring its debt, ever since.
However, in a Securities and Exchange Commission (SEC) filing in April 2023, Tupperware said that "The Company has concluded that there is substantial doubt about its ability to continue as a going concern for at least one year from the expected issuance date of its Form 10-K financial statements."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Tupperware appointed a new CEO, Laurie Ann Goldman, in October.
FOX Business' Ailslinn Murphy and Daniella Genovese contributed to this report.
Get updates to this story on FOXBusiness.com.