Texas-based retailer The Container Store has filed for Chapter 11 Bankruptcy. What does that mean for its customers?

The Container Store has officially filed for bankruptcy. So what happens to the popular home storage and organization chain? According to CBS News, the Texas-based company said that its stores and online operations will remain open throughout its Chapter 11 bankruptcy process. The chain has more than 100 locations across the United States.

The Texas-based company, which has stores in Uniondale and Huntington, is grappling with mounting losses and cash flow shortages.

The Container Store filed for bankruptcy protection on Sunday amid a slowdown in sales. Under Chapter 11 protection, the storage and organizational supply retailer based in Coppell will still operate and make timely payments to vendors and suppliers.

The Container Store says business will continue as usual while it restructures after filing for Chapter 11 bankruptcy protection amid steep losses, slumping sales and increased competition.

The Container Store just filed for bankruptcy. I visited the store's Manhattan location in September and was disappointed with the pricing.

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The Container Store, the popular retail location for all things organizing, has announced plans to enter Chapter 11 bankruptcy protection. In a news release, the company said it will start a recapitalization to help strengthen its financial position for long-term growth and profitability.

The Texas company has faced increasing competition from retailers like Target and Walmart at the same time that demand for its goods is under strain in a rough housing market.

During what has been a rough year for some big-name American retailers, the CEO of The Container Store said on Monday that the company is "here to stay" and looking at the future despite its bankruptcy.

NEW YORK (AP) — The Container Store has filed for bankruptcy protection ... increasing competition from retailers like Target and Walmart at the same time that demand for its goods is under ...

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