The Container Store has filed for Chapter 11 bankruptcy protection, marking a significant milestone after 46 years in business. The company aims to execute a comprehensive recapitalization transaction with lender support, insisting that it is here to stay despite mounting pressures and losses. The retail chain, known for its iconic home goods, is navigating a challenging economic landscape characterized by stiff competition and a struggling housing market. In light of its bankruptcy, the chain maintains that it plans to continue operations as usual and has no immediate plans for mass location closures.