The Container Store is struggling to stay afloat largely due to market conditions and rising competition. Some experts say it's the next retailer to file for Chapter 11.
The Container Store rapidly gained fame through the success of Netflix's "Tidying Up" series. Today, it could be the next big retailer to go bankrupt. The retail chain, which offers a range of custom spaces, organizational solutions and in-home services, is contending with a weaker housing market and a growing availability of cheaper alternatives. The company touts itself as the "nation's only home storage retailer with a solution-oriented approach.
BED BATH & BEYOND'S LIST OF STORE CLOSINGS "When we signed the Purchase Agreement, we were optimistic that the Container Store would be able to secure adequate financing to support the business going forward," Lemonis said. "While we continue to believe in The Container Store’s brand and business fundamentals, the proposed financing terms we have reviewed to date fall short of what we believe is necessary to complete the transaction.
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