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The Container Store files for Chapter 11 bankruptcy to refinance $243M debt while keeping stores open.
The Container Store has filed for Chapter 11 bankruptcy to refinance its debt, which totals $243 million.
Despite facing financial challenges and a 10% drop in revenue, the company, with assets between $100 million and $500 million, plans to continue operations without store closures or layoffs.
The bankruptcy process is expected to last about 35 days, allowing the company to reorganize and secure a financial turnaround with new financing and deleveraging funds.
4 months ago
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