Company Overview of The Container Store, Inc.
The Container Store, Inc. operates a chain of retail stores in the United States. The company offers products in the categories of bath, cleaning, collections, closet, desks, dorm, entryway, garage, gift card and packaging, home office, hooks, jewelry storage, kitchen, laundry, shelving, storage, top pinned, toy storage, trash and recycling, and travel, as well as moving, shipping, and storage products. It also provides design and installation services. The company also sells its products online. The Container Store, Inc. was founded in 1978 and is based in Coppell, Texas. It has stores in Arizona, Arkansas, California, Colorado, District of Columbia, Florida, Georgia, Illinois, Indiana, Kan...
500 Freeport Parkway
Coppell, TX 75019
Founded in 1978
Key Executives for The Container Store, Inc.
Co-founder, Chairman, Chief Executive Officer and President
Vice President of Buying Logistics and Operations
Compensation as of Fiscal Year 2015.
The Container Store, Inc. Key Developments
The Container Store, Inc. Enters into Amendment Agreement with JPMorgan Chase Bank, N.A
Oct 9 15
On October 8, 2015, The Container Store, Inc. (the Borrower), a wholly-owned subsidiary of The Container Store Group, Inc. (the Company), entered into an amendment (Amendment No. 2) with JPMorgan Chase Bank, N.A., as a lender, administrative agent and collateral agent, Wells Fargo Bank, National Association, as a lender, and the guarantors party thereto, to the revolving credit agreement dated as of April 6, 2012 (as amended to date, the Revolving Credit Facility). Pursuant to the terms of Amendment No. 2, among other items, (i) the maturity date of the loan was extended from April 6, 2017 to the earlier of (x) October 8, 2020 and (y) January 6, 2019, if any of the Borrower's obligations under its term loan credit facility remain outstanding on such date and have not been refinanced with debt that has a final maturity date that is no earlier than April 6, 2019 or subordinated debt, (ii) the aggregate principal amount of the facility was increased from $75 million to $100 million, (iii) the interest rate decreased from a range of LIBOR + 1.25% to 1.75% to LIBOR + 1.25% and (iv) the uncommitted incremental revolving facility was increased from $25 million to $50 million, which is subject to receipt of lender commitments and satisfaction of specified conditions. As provided in Amendment No. 2, the Revolving Credit Facility will continue to be used for working capital and other general corporate purposes. Amendment No. 2 allows for swing line advances of up to $15 million and the issuance of letters of credit of up to $40 million, increased from the previous swing line limits of $7.5 million and letter of credit limits of $25 million.
The Container Store to Open its First Wisconsin Store at Mayfair in Wauwatosa in 2015
Dec 19 13
The Container Store will open its first Wisconsin store at Mayfair in Wauwatosa in 2015. The announcement marks the latest in a string of retailers that chose Mayfair mall for their first Wisconsin location. The mall also is working on plans for the Nordstrom store that also will open in 2015. The Container Store will be at the southeast corner of the Mayfair mall property, nearest to the North Avenue entrance in the former Aurora office building location.
The Container Store, Inc. Enters into Second Amendment to the Credit Agreement
Nov 27 13
On November 27, 2013, The Container Store, Inc. entered into a second amendment to the Credit Agreement, dated as of April 6, 2012, among the Company, the guarantors party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. The Amendment amends the Credit Agreement to, among other things, (i) reduce the applicable interest rate margin from 4.25% to 3.25% for LIBOR loans and from 3.25% to 2.25% for base rate loans, (ii) decrease the interest rate floor from 1.25% to 1.00% for LIBOR loans and from 2.25% to 2.00% for base rate loans, and (iii) impose a 1% premium if a voluntary prepayment is made from the proceeds of a repricing transaction within 6 months after the Effective Date.
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