The Container Store files for bankruptcy

The company, with $230 million in debt and $12 million in cash, will receive $40 million in new financing due to its bankruptcy filing. This move aims to improve its financial health, support growth, and enhance profitability. The store's 102 locations and website will remain operational during the process. After completing Chapter 11, the company plans to become private.

What are the intended benefits of filing for bankruptcy protection according to the store?

What does The Container Store plan to do once Chapter 11 is complete?