The Container Store to go public
New York -- The Container Store late Monday filed a registration statement with the Securities and Exchange Commission for an initial public stock offering.
The retailer, which operator of 62 stores in 22 states with annual sales of $702 million, said it sees the potential for c as many as 300 U.S. Locations, with international growth also a possibility. It expects to open six stores during the current fiscal year and seven stores next year.
Funds raised in the stock offering will be used to pay a dividend to holders of the company’s senior and junior preferred stock. The Container Store currently has outstanding debt of $392 million, according to the filing.