Major Home Store On The Brink Of Bankruptcy Despite Netflix Partnership [Video]

According to specialists, it seems that The Container Store, a specialty retail chain store, is close to declaring bankruptcy. Despite the success of Marie Kondo’s “Tidying Up” Netflix show in 2019, which featured The Container Store, high prices and market changes rank the chain store as “one of the most financially distressed companies.”

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Strong competition and factors such as the COVID pandemic, which forced people to stay inside their homes, contributed to the decline of The Container Store. “When people move, they buy a heck of a lot of things related to storage and organization. Without this impetus, Container Store has struggled,” Neil Saunders told CNN. He is an analyst at GlobalData Retail.

Saunders then attributed the decline in the Container Store’s products to the “weakening of the housing market.” Tim Hynes, global head of credit research at Debtwire, does not believe that the holiday season will work wonders for …