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The Container Store Goes Private Following Month-Long Bankruptcy

Jilllian Cain-stock.Adobe.com

The Container Store has emerged from Chapter 11 bankruptcy protection as a private company owned by its “supportive lenders,” according to a site the retailer has created. The move is part of a reorganization plan that was approved by the U.S. Bankruptcy Court on Jan. 24, 2025.

The specialty retailer, which operates 100 stores nationwide, continued operating throughout the bankruptcy and also refinanced short-term debt, significantly reduced previous long-term debt obligations, accessed $40 million in new financing and modified its asset-backed lending facility to add $40 million in upsized capacity.

“With our restructuring process now behind us, we have renewed energy and excitement to deliver for our customers,” said Satish Malhotra, CEO and President of The Container Store in a statement. “We are focused on optimizing our business, enhancing our portfolio of organizing solutions and services, and continuously improving the customer experience. I am grateful to our employees and vendor partners for their dedication throughout this process, to our valued customers for their support, and to our new owners for their belief in our business.”

The Container Store filed for Chapter 11 bankruptcy protection in December 2024 after facing delisting from the New York Stock Exchange earlier that month. At that time, Malhotra said in a statement that “The Container Store is here to stay; our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our business, deepen customer relationships, expand our reach and strengthen our capabilities.”

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In October 2024, Bed Bath & Beyond parent company Beyond had committed to investing $40 million in The Container Store as part of an agreement that would have combined the specialty retailer’s brick-and-mortar footprint with Beyond’s customer data platform, payment and loyalty programs. However, the deal fell apart in November amid concerns about The Container Store’s ability to meet the financing requirements of the proposed partnership.

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