The Container Store files for bankruptcy as sales slump

(WJET/WFXP) — The Container Store, one of the largest retailers of organizing solutions, has filed for Chapter 11 bankruptcy.
At the time of filing, The Container Store Group reported $243 million in debt. The company has secured $40 million in new financing and at least $45 million of deleveraging funds. For the second quarter of 2024, the company reported a loss in revenue of 10%, down to $196 million compared to the same period in 2023.The Container Store joins the growing list of compa