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 home-organizing giant struggled with a pullback in store sales and increased competition from discounters.

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

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 couldn't keep up as consumers turned to Amazon, focused on essential goods and pulled back on big-ticket items.

NEW YORK — Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group for $6.25 billion, the company said Dec. 23.

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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,

The business will be acquired by members of the family and El Puerto de Liverpool, a Mexican real estate company