AMERICAS DISTRESS DAILY: Container Store May File for Bankruptcy

Container Store is preparing to file for bankruptcy in the coming weeks following mounting losses and escalating liquidity woes, according to people familiar with the matter.

The storage and organizational-goods retailer will seek Chapter 11 protection with a plan in place for lenders to take control of the firm. Lender discussions to provide additional capital have since pivoted to restructuring talks.

In Other News:

• Mitel Networks isworking on a debt restructuring with PJT Partners and FTI Consulting amid earnings pressure at the telecom firm, which faces a lawsuit involving a controversial debt revamp in 2022. Term loans are trading ...