The Container Store files for bankruptcy, insists it's here to stay

Published On Dec 23, 2024, 9:30 AM

The Container Store has filed for Chapter 11 bankruptcy protection while expressing a commitment to continue operations and maintain its workforce. The retailer aims to use the bankruptcy process to restructure its finances and has garnered support from over 90% of its lenders, which includes a $40 million financing package intended to reduce its debt by at least $45 million. Despite the bankruptcy filing, the company claims this will not disrupt its business activities.