The Container Store Expected To File For Bankruptcy

CNN Business reports:

The Container Store’s future is in jeopardy. A weak housing market and steep competition have squeezed the chain. The Container Store, which first began in 1978 and has grown to around 100 US locations, now faces a critical holiday shopping season to save it from bankruptcy. Credit rating agencies rank the Container Store as one of the most financially distressed companies in the retail industry.

The Container Store’s struggles show that the bump many retailers got coming out of the pandemic has ended, with retailers now facing a much tougher environment. There’s a “high probability” the Container Store will join those retailers and file for bankruptcy, said Tim Hynes, the global head of credit research at Debtwire, a publication that focuses on distressed companies.

Read the full article.

Container Store’s $40 million bailout deal in jeopardy as financing efforts ‘fall short’
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— Dallas Morning News (@dallasnews) November 24, 2024