The Container Store Files For Bankruptcy Protection
The Associated Press reports:
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 Texas company has faced increasing competition from retailers like Target and Walmart at the same time that demand for its goods is under strain in a rough housing market, where soaring prices and elevated mortgage rates have stunted sales.
Under Chapter 11 protection, The Container Store will continue to operate while it restructures.
Read the full article.
The chain currently has 102 locations.
How weird that this story fails to mention The Container Store is over 30% owned by private equity.
I wonder why they never mention private equity ownership when a
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