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.

NEW YORK (AP) — The Container Store has filed for bankruptcy protection as the storage and organizational goods retailer with roots dating back to the 1970s grapples 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.

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

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.

The Container Store has filed for bankruptcy. It is the latest well-known retailer to fall victim to customers cutting back on discretionary spending.

The Container Store, a once-thriving home organization retailer, has become the latest casualty in a string of bankruptcy filings that have rocked the retail industry. In a recent message to customers,

Big Lots, Party City, and The Container Store are all facing either bankruptcy or demise. The news rounded off an already tough year for US retailers.

Coppell-based retailer The Container Store announced in a press release on Dec. 22 that it is filing for Chapter 11 bankruptcy.