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The Container Store, buffeted by rough housing market and competition, seeks bankruptcy protection

  • The Container Store has filed for bankruptcy protection due to mounting losses and cash flow shortages.
  • Under Chapter 11 protection, The Container Store will continue to operate while it restructures its finances.
  • The company revealed it has about $230 million in debt and $11.8 million in cash, but will receive $40 million in fresh financing.
  • The Container Store aims to bolster its financial position and drive long-term profitability, according to CEO Satish Malhotra.
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