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The Container Store said late Sunday that it is filing for Chapter 11 bankruptcy protection after years of losses and declining sales.. The retailer, known for selling storage and organizational ...
The Container Store is back from bankruptcy. The struggling home goods emerged from Chapter 11 bankruptcy on Tuesday, Yahoo Finance learned exclusively. In a release, the company said it "achieved ...
The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples with mounting losses and cash flow shortages.
The company said Sunday that it had filed for bankruptcy protection in Texas. The filing arrives two weeks after the trading of company shares was suspended by the New York Stock Exchange. The Container Store Group Inc. failed to maintain an average market capitalization of at least $15 million in accordance with NYSE rules.
A fall from grace. Founded in 1978, The Container Store went public on Nov. 1, 2013, pricing its initial public offering at $525 per share. By the close of trading that day, shares closed at $543.
The Container Store was founded in Dallas by Garrett Boone and John Mullen. With the backing of their families, they inaugurated the first The Container Store on July 1, 1978. The store introduced a new retailing category: home storage and organization. [2] [3] Kip Tindell and his wife joined the founding team the next year.
The Container Store says business will continue as usual while it restructures after filing for Chapter 11 bankruptcy protection amid steep losses, slumping sales and increased competition.
The Container Store filed for Chapter 11 bankruptcy in December 2024, but vowed to keep all 102 locations open. [103] Crate & Barrel's children's line Land of Nod closed all of its retail stores in February 2018. [104] CVS Pharmacy announced in November 2021 that it planned to close 900 stores over a three-year period, starting in spring 2022 ...