Reported 1 day ago
The Container Store Group Inc. is gearing up to file for Chapter 11 bankruptcy due to significant losses and liquidity issues, according to insider reports. The retailer, which has 103 U.S. locations and $229.8 million in long-term debt, was in talks with lenders for additional capital but has shifted focus to restructuring. The situation worsened after challenges from Beyond Inc. concerning financing arrangements, leading to a pending delisting from the New York Stock Exchange.
Source: YAHOO