National Retailer With Ross Location Declares Bankruptcy

ROSS TOWNSHIP, PA — The Container Store has filed for Chapter 11 bankruptcy protection, becoming the latest retailer to experience a crippling downtown in business.

The chain has 102 locations nationwide, including one at The Block Northway in Ross.

Unlike Party City and Big Lots, both of which announced last week that they are going out of business, The Container Store intends to continue operating.

“The Container Store is here to stay. Our strategy is sound, and we believe the steps we are taking today will allow us to continue to advance our business, deepen customer relationships, expand our reach, and strengthen our capabilities,” company CEO Satish Malhotra said in a release.

“We are particularly excited about the future of our custom space offerings, which continue to demonstrate strength. I want to thank our incredibly talented employees for their continued dedication, our customers, partners, and vendors for their support, and our lenders who clearly see the strong potential in our business. "

The company did not indicate if any of its stores will be closing.