The Container Store has emerged from Chapter 11 bankruptcy
1 month, 3 weeks ago

The Container Store has emerged from Chapter 11 bankruptcy

Daily Mail  

The Container Store has emerged from Chapter 11 bankruptcy. As inflation has hit households hard in the last several years, The Container Store struggled to drive revenue, especially as customers have put off buying big-ticket items and remodeling their homes. The Container Store's woes are part of a widespread 'retail apocalypse' which last year saw major companies file for bankruptcy and brick-and-mortar stores close in their droves. Discount retail chain Big Lots said last year it was beginning 'going out of business' sales at all its stores across the US, after filing for bankruptcy in September. Meanwhile after nearly four decades as a US retail institution, Party City announced late last year it would close all of its 850 stores.

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Craft supplies retailer Joann declares bankruptcy for the second time in a year
2 months, 1 week ago

Craft supplies retailer Joann declares bankruptcy for the second time in a year

LA Times  

The craft supplies and fabric retailer Joann filed for bankruptcy for the second time in less than a year, as the chain wrestles with declining sales and inventory shortages, the company said Wednesday. “We hope that this process enables us to find a path that would allow Joann to continue operating,” said interim Chief Executive Michael Prendergast in a statement. …

Home Depot rival files for bankruptcy and sparks fears of mass closures
3 months ago

Home Depot rival files for bankruptcy and sparks fears of mass closures

Daily Mail  

The Container Store has filed for bankruptcy, sparking fears of store closures. CEO Satish Malhotra, a former Sephora executive who took over the top spot at the chain in 2021, said he is confident The Container Store is 'here to stay' despite the filing, Yahoo! The store is known for its home organizational goods, including closet organizers and storage bins …

Home goods retailer The Container Store files for bankruptcy protection
3 months ago

Home goods retailer The Container Store files for bankruptcy protection

Live Mint  

Dec 23 - Custom closets manufacturer The Container Store filed for Chapter 11 bankruptcy protection in the United States, as the retailer struggles with mounting debt and weak consumer demand. "We intend to maintain our strong workforce and remain committed to delivering an exceptional experience for our customers while we execute this recapitalization and for many years to come," said …

The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection
Trending News
3 months ago

The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection

Associated Press  

NEW YORK — 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 Container Store Group Inc. failed to maintain an average market capitalization of at least $15 million in accordance with NYSE rules. Last month, The Container Store …

The Container Store files for bankruptcy amid stiff competition
3 months ago

The Container Store files for bankruptcy amid stiff competition

LA Times  

The Container Store, which has several locations in the Los Angeles area, has filed for Chapter 11 bankruptcy protection. The Container Store Group Inc. has filed for Chapter 11 bankruptcy protection amid steep losses, slumping sales and increased competition. “Our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our …

The Container Store files for bankruptcy, vows to keep stores operating as normal
3 months ago

The Container Store files for bankruptcy, vows to keep stores operating as normal

NPR  

The Container Store files for bankruptcy, vows to keep stores operating as normal toggle caption Smith Collection/Gado/Getty Images The Container Store — once the premier hub for all things storage and organization — filed for bankruptcy amid mounting debt. In a company statement, the Container Store said the bankruptcy process will have no impact on customers. During the earnings call …

The Container Store files for bankruptcy
3 months ago

The Container Store files for bankruptcy

CNN  

New York CNN — The Container Store has filed for bankruptcy. The 46-year-old company said in a statement late Sunday that filing for Chapter 11 bankruptcy protection will help it “bolster its financial position, fuel growth initiatives, and drive enhanced long-term profitability.” The Container Store revealed in court documents that it has about $230 million in debt and just $11.8 …

The Container Store could be the next big chain to go bankrupt
3 months, 3 weeks ago

The Container Store could be the next big chain to go bankrupt

CNN  

New York CNN — Even the power of Marie Kondo may not be enough to save the Container Store. The Container Store has struggled Justin Sullivan/Getty Images There’s a “high probability” the Container Store will join those retailers and file for bankruptcy next year, said Tim Hynes, the global head of credit research at Debtwire, a publication that focuses on …

Some retailers too broke to go bankrupt
4 years, 10 months ago

Some retailers too broke to go bankrupt

CNN  

New York CNN Business — Everything must go! Store-closing sales are crucial to the nation’s retail economy: They help liquidate slow-to-sell inventory, and in many cases, they fund a company’s operations through bankruptcy. But they also say many retailers are likely holding off filing until they are able to make plans for the stores they need to close during bankruptcy. …

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