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SOUTH LOOP — The Container Store will close its location in a South Loop shopping center this winter.
The Container Store, 150 W. Roosevelt Road, will be leaving the Roosevelt Collection Shops when the retailer’s lease is up in February, employees said. It’s one of two stores the retail chain is closing due to rising rents, according to commercial real estate site CoStar; the other store is in Los Angeles.
The Texas-based home organization company has struggled in recent years. Reports emerged in May that The Container Store could be delisted from the New York Stock Exchange after a dismal fourth quarter last year.
Beyond Inc., the parent company of Bed, Bath and Beyond, announced last month it would be investing $40 million into The Container Store, but the deal may fall through if the retailer isn’t able to secure sufficient funding.
The Container Store is the second retailer in a month to announce its exit from the upscale South Loop shopping center. Children’s boutique Kido Chicago announced it would be closing last month.
There are six remaining Container Store locations in the Chicago area, including in Old Town and Lincoln Park.
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