The Container Store emerges from bankruptcy under private ownership

COPPELL, Texas — The Container Store Group Inc.  has completed its financial restructuring process and emerged from Chapter 11 bankruptcy protection, and are now a private company.

The company has implemented its plan of reorganization, confirmed by the U.S. Bankruptcy Court on Jan. 24, 2025.

The Container Store filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas on Dec. 22, 2024. 

In a letter to its customers, Satish Malhotra, president & CEO of The Container Store, said the company has felt the impact of a challenging macroeconomic environment and is taking steps to continue serving its customers for years to come.

Malhorta said the company had achieved the objectives it set for this process, including refinancing short-term debt, significantly reducing previous long-term debt obligations, accessing $40 million in new financing, and modifying its asset-backed lending facility to add $40 million in upsized capacity. 

Additionally, the company continued to operate as usual, meeting its obligations to vendors, employees, and customers throughout the process. The Container Store is now a private company, under the ownership of its supportive lenders, with a healthier balance sheet that positions the Company for profitable growth.

“This is a new chapter in our journey as a healthier company well-positioned to drive strategic growth initiatives forward. 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. “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 has created a dedicated website for stakeholders to get information at www.futureforcontainerstore.com.

Additional information on the company’s Chapter 11 case can be found at www.veritaglobal.net/thecontainerstore or contact Verita, the Company’s noticing and claims agent, at 888-251-3046 (for toll-free U.S. and Canada calls) or 310-751-2615 (for tolled international calls).

The Container Store was advised in this matter by Latham & Watkins LLP and Hunton Andrews Kurth LLP as legal counsel, Houlihan Lokey as investment banker, FTI Consulting as financial and communications advisor, and A&G Realty as real estate advisor. The ad hoc group of the Company’s Term Loan Lenders were advised in this matter by Paul Hastings LLP, Greenhill & Co. as investment banker, and AlixPartners as financial advisor.

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Larry Adams | Editor

Larry Adams is a Chicago-based writer and editor who writes about how things get done. A former wire service and community newspaper reporter, Larry is an award-winning writer with more than three decades of experience. In addition to writing about woodworking, he has covered science, metrology, metalworking, industrial design, quality control, imaging, Swiss and micromanufacturing . He was previously a Tabbie Award winner for his coverage of nano-based coatings technology for the automotive industry. Larry volunteers for the historic preservation group, the Kalo Foundation/Ianelli Studios, and the science-based group, Chicago Council on Science and Technology (C2ST).