Just months after warning it might not survive, Tupperware Brands has seen its stock price rise in recent weeks from less than $1 to about $5 and revealed a restructuring of its debt.

The Osceola County-based company’s stock price rose more than 35% on Friday to $4.77 at close. On July 21, the stock closed at 90 cents.

The price began to climb in the back half of July, with some media outlets comparing the jump to meme stocks like GameStop. Reuters called it “reminiscent” of meme stock events, which the news outlet described as taking place when retail investors use social media to focus on struggling companies or those businesses with high short interest. 

Tupperware on Thursday revealed in a news release a debt restructuring that would reduce and reallocate about $150 million of cash interest and fees. It also extends the maturity of about $348 million of principal, reallocated interest and fees to 2027. The release did not specify the date of maturity before the extension.

“We are committed to making ongoing progress in improving liquidity and strengthening our capital structure,” said CFO Mariela Matute in the release.  “We appreciate the support of our lenders, who share in our strategy, as we move forward.”

Tupperware in April warned it might not have enough cash to survive in the near term and said there was “substantial doubt about its ability to continue as a going concern.”

The boost in stock price also comes after the price lingered under $1 for long enough to prompt the New York Stock Exchange to warn the company in June about its average closing price being less than $1 for 30 consecutive trading days. It had six months to fix the issue by having a closing share price of $1 on the last day of the month and an average stock price of $1 over the prior 30 trading days.

After years of declining sales, the business known for its food containers and sales parties started to see some turnaround during the pandemic, when people were eating at home more because of lockdowns. In October 2020, under new CEO Miguel Fernandez, Tupperware reported its first year-over-year sales increase in a quarter since 2017.

The company’s stock price reached $37.29 in January 2021.

Tupperware has also been trying to sell its containers in different ways, with its independent sales force working online and the items becoming available in Target last year.

The business moved to Central Florida in the 1950s, bringing jobs, hosting “jubilees” and drawing visitors to its headquarters. 

In 2019, Tupperware said it employed about 300 people at its Central Florida headquarters, but in a February 2020 statement that number had fallen to about 250 people. The company did not release updated staffing figures to the Orlando Sentinel when asked earlier this year.