Latham & Watkins Represents the Container Store in Emergence From Chapter 11

The Container Store Group, Inc., a leading retailer of organizing solutions, custom spaces, and in-home services, has announced that the company has successfully completed its financial restructuring process and emerged from Chapter 11 bankruptcy protection. The Company has implemented its Plan of Reorganization, confirmed by the US Bankruptcy Court on January 24, 2025. The company achieved the objectives it set for this process, including restructuring approximately US$243 million in long-term debt obligations, accessing US$40 million in new financing through a US$115 million DIP-to-exit term loan credit facility, and refinancing and upsizing its asset-backed lending facility to add US$40 million in additional capacity. Additionally, the company continued to operate as usual, meeting its obligations to vendors, employees, and customers throughout the process. The Container Store is now a private company, under the ownership of its supportive lenders, with a healthier balance sheet that positions the company for profitable growth.

Latham & Watkins LLP represented The Container Store in the process with a restructuring and special situations team led by New York partner George Davis and Los Angeles partner Ted Dillman and counsel Hugh Murtagh and Adam Ravin, with associates Jon Weichselbaum, TJ Li, Kevin Shang, Allie Lisner, Rebekah Presley, Brian Herskowitz, and Beau Parker. Advice was provided on corporate matters by New York partners Jenna Cooper and Greg Rodgers, New York/Century City partner Jason Silvera, and Chicago partner Sean Parish, with associate Shahar Gonen; on finance matters by New York partners Joshua Tinkelman and Seniz Yakut, Los Angeles/Bay Area partner Elizabeth Oh, and counsel Benjamin Gelfand, with associates Hyunji Lee, Tyler Davis, and Ian Drazen; on tax matters by Chicago partner Joseph Kronsnoble, with associates Derek Gumm and Tessa Young; and on litigation matters by Los Angeles partner Amy Quartarolo.