The Container Store's woes come during what's been a tough year for some bricks-and-mortar retailers, which have seen store closures spike almost 70% this year. Through November, about 45 retailers have filed for bankruptcy protection in 2024, compared with 25 retail bankruptcies for all of 2023, according to a recent CoreSight report.

The Container Store, which was recently delisted from the New York Stock Exchange, has filed for bankruptcy protection in an effort to try and turn its business around.

The specialty retail chain offering storage and organization products filed for bankruptcy as it contends with quarterly losses and rising debt levels that have shaken investor confidence and led to its imminent delisting.

The Container Store, one of the largest retailers of organizing solutions, has filed for Chapter 11 bankruptcy. It is the second major company to file for bankruptcy in the past week, following Party City,