The Container Store exits Chapter 11 after restructure

exterior of The Container Store
The Container Store Group has emerged from Chapter 11 bankruptcy protection. (Source: The Container Store)

The Container Store Group has emerged from Chapter 11 bankruptcy protection after completing its financial restructuring process.

The company said it had refinanced its short-term debt and reduced long-term debt obligations, accessed $40 million in new financing, and modified its asset-backed lending facility to add $40 million in upsized capacity.

The Container Store is now a private company under the ownership of its lenders, with a healthier balance sheet that positions it for profitable growth.

President and CEO Satish Malhotra said the conclusion of the restructuring process opened “a new chapter” for the company.

“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,” Malhotra added.

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