Reuters is reporting that Container Store has filed paperwork for an Initial Public Offering.
The "original storage and organization store," Container Store operates 62 stores in 22 states, including four locations in the Los Angeles-area, Century City, Costa Mesa, El Segundo and Pasadena.
Selling storage bins, baskets, drawer dividers, trays, locker organizing supplies, labelers, and small furniture, Container Store has amassed quite a following in their 35-year history including accolades from Forbes for the quality of their work environment.
We've written some behind the scenes stores about Container Store including; their sale in 2007, their equity purchase, the shutting down of their closet organizing system Elfa wholesale division, and a slew of other pieces on their generous charitable activities.
There is no word yet when the offering will be put out. If you would like to read more about the deal, and issues surrounding, check out the Wall Street Journal blog. The Dallas Evening News blog is saying that Container Store really just wants another private investor to take over, a public offering turns the company into a revenue generating machine... and that machine may hurt their workforce by taking away costly benefits. This makes sense because other retail stores we shop at for our Los Angeles professional organizing business are public, and their service reflects a focus on sales, not service. But who know? In the meantime, we're still shopping there for our clients.
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