The Container Store Files for Bankruptcy, Plans to Privatize

The company’s shares were suspended by the New York Stock Exchange for the company’s failure to maintain the requisite market capitalization.
The Container Store Files for Bankruptcy, Plans to Privatize
Storage bins from the Container Store in New York on Dec.13, 2024. AP Photo/Cathy Bussewitz, File
Naveen Athrappully
Updated:
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The Container Store filed for bankruptcy protection on Sunday as the latest retailer to face business restructuring following mounting losses and cash flow shortages.
Based in Texas, the company operates more than 100 outlets nationwide along with an online store. A leading provider of organizing solutions selling more than 10,000 products, the company, via the bankruptcy filing, will implement a “recapitalization transaction” to improve its financial situation. The Container Store will not shut down operations but will “operate its business as usual,” said a Dec. 22 company statement, adding that “all customer deposits and orders will be honored and delivered as normal.”
Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.