(Reuters) - Tupperware Brands Corp on Monday said it had engaged investment bank Moelis & Co LLC to explore strategic alternatives, adding that it expects a "material decline" in revenues for the first quarter ended April 1.

Shares of the company, which makes reusable plastic containers, fell more than 18% to 89 cents in premarket trading, after the company also said it has found additional prior period misstatements in its financial reporting.

The company in April raised doubts about its ability to continue as a going concern, as it struggled to contain a slump in sales amid a surge in competition and weak discretionary spending.

Tupperware said in a filing on Monday it estimated revenue in the range of $280 million to $290 million.

The company has also appointed Brian Fox, managing director at Alvarez & Marsal North America LLC as its chief restructuring officer.

(Reporting by Granth Vanaik and Deborah Sophia in Bengaluru; Editing by Nivedita Bhattacharjee)