The Container Store exits bankruptcy. The retailer used Chapter 11 to shed nearly $88 million in debt and will go forward as a privately held company owned by its lenders.
The Container Store files for bankruptcy, but it's business as usual. Thanks to an agreement with most of its term loan lenders, the retailer will keep its stores and website open and emerge as a private company.
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.
So far, the company hasn't announced any store closures as part of the Chapter 11 process and, in fact, The Container Store insists that none of this will have any impact on in-store services or online operations. “The Container Store is here to stay,” CEO Satish Malhotra said in a statement.
Kohl's has announced the closure of more than two dozen stores it deemed underperforming. The Wisconsin-based retailer has struggled in recent quarters with "frankly disappointing" sales, in the words of then-CEO Tom Kingsbury last quarter.
Stores ranging from Advance Auto Parts, to JOANN Inc., have announced closures as well as restaurants, including Red Lobster and Wendy's. Retail closures were up 69% in 2024 when compared to last year, according to Coresight data reviewed by Newsweek.
The estimated total pay range for a Sales Associate at The Container Store is $15–$21 per hour, which includes base salary and additional pay. The average Sales Associate base salary at The Container Store is $18 per hour.
Nearly all of the shipping containers in existence are owned either by a shipping line or by a container leasing company. A small percentage of shipping containers are owned by the shipper. The owner of any given shipping container is dictated on the side of the container.
The Container Store competitors include The Home Depot, Target, J. C. Penney, Bed Bath & Beyond and Crate and Barrel.
"The Container Store is here to stay," CEO Satish Malhotra said in a statement. "We intend to maintain our strong workforce and remain committed to delivering an exceptional experience for our customers while we execute this recapitalization and for many years to come."
At the moment the transport of goods is facing unique and unusual problems. The unpredictable outcome of the pandemic forces us to face the crisis of a worldwide shortage of containers. Indeed, this is a crisis, because the shortage of containers affects supply chains and influences trade on a global scale.
Fewer operational vessels leading to shipping container shortage. As global trade slowed, some vessels were taken out of service for maintenance or refurbishment. Additionally, COVID-19 outbreaks on some ships led to interrupted voyages, reducing the overall number of vessels available for shipping.
The Container Store's stock rose on news of the acquisition, which is expected to bolster product offerings and profit margins. Coppell-based storage solutions retailer The Container Store has acquired Closet Works for $21.5 million, the company announced Monday.
The Container Store Group has received a consensus rating of Hold. The company's average rating score is 2.00, and is based on no buy ratings, 1 hold rating, and no sell ratings.
The Container Store has an overall rating of 3.3 out of 5, based on over 1,951 reviews left anonymously by employees. 48% of employees would recommend working at The Container Store to a friend and 29% have a positive outlook for the business. This rating has decreased by 6% over the last 12 months.
As of Jan 30, 2025, the average hourly pay for a Cargo Ship Crew in California is $19.06 an hour. While ZipRecruiter is seeing salaries as high as $25.38 and as low as $12.81, the majority of Cargo Ship Crew salaries currently range between $17.07 (25th percentile) to $20.38 (75th percentile) in California.
If you're interested in selling your products in our stores or on our website, we'd love to hear from you! Please contact us at [email protected]. Companies interested in providing services or operating goods to The Container Store should reach out to us at [email protected].
Walmart will be closing nearly a dozen stores before the year is out. The most affected state will be California where five locations will shutter for good. American retailers have been facing more financial hardship in 2024 as inflation-weary shoppers have reduced spending and are seeking out sales and deals.
Walgreens is closing 1,200 stores. Walgreens is closing more locations. Walgreens is closing approximately 1,200 locations as the drug store chain struggles to contend with online competitors and declining prescription drug payments. By 2027, about one in seven Walgreens currently open will close its doors.
But Family Dollar, which is owned by Dollar Tree, has been struggling with mounting competition and its own inflation issues. In March, Dollar Tree announced that it expected to close 1,000 Family Dollar stores, starting with 600 closing in 2024. Is your local Family Dollar on the list of closures?