The Container Store Bankruptcy

SOURCE www.npr.org
The Container Store filed for Chapter 11 bankruptcy protection, but stated that it will have no impact on customers and will keep all 102 of its U.S. locations open.

Key Points

  • The Container Store filed for Chapter 11 bankruptcy protection
  • Sales declined by 10.5% in the latest quarter
  • Plans to receive $40 million in new financing and confirm a reorganization plan within 35 days

Pros

  • The bankruptcy will not impact customers
  • All 102 U.S. locations will remain open

Cons

  • The company has amassed over $243 million in debt