The Container Store Group Faces Delisting from New York Stock Exchange

The Container Store Group, Inc. (NYSE: TCS) received notification from the New York Stock Exchange (NYSE) on December 9, 2024, indicating that proceedings would begin to delist the company’s common stock and Preferred Stock Purchase Rights due to non-compliance with Rule 802.01B of the NYSE Listed Company Manual. This rule necessitates listed companies to uphold an average global market capitalization over a consecutive 30-day period of at least $15 million. Trading in The Container Store Group’s stock on the NYSE was consequently halted after market close on the same day. The company has chosen not to contest the NYSE’s delisting determination.

Following this notification, on December 10, 2024, the NYSE submitted a Form 25 to the Securities and Exchange Commission (SEC) to delist The Container Store Group’s common stock and Preferred Stock Purchase Rights from both the NYSE and from registration under Section 12(b) of the Securities Exchange Act of 1934. The delisting will officially become effective 10 days post the submission of the Form 25.

With the suspension of trading on the NYSE and the impending delisting, The Container Store Group’s common stock is currently trading on the Pink Sheets platform operated by OTC Markets Group, Inc. under the symbol “TCSG.” Despite this, the continuity of a market for the company’s common stock post-delisting is uncertain, and there is no guarantee regarding future trading on an OTC market or elsewhere.

This report includes forward-looking statements regarding the delisting of The Container Store Group’s stock from the NYSE and the subsequent trading of the company’s common stock on the OTC Market. These statements are founded on current expectations but involve potential risks, uncertainties, and other crucial factors that could result in material differences in future outcomes as expressed or implied by the forward-looking statements. Factors such as the potential risks associated with trading on the OTC Market, liquidity constraints, risks linked to the company’s indebtedness, and other risks discussed in the company’s filings with the SEC could lead to actual results varying significantly from the forward-looking statements in this report.

While management may choose to update these forward-looking statements in the future, there is no obligation to do so, even if subsequent events prompt a change in perspective. Thus, the forward-looking statements in this report should not be solely relied upon as an indication of the company’s views beyond the date of this Current Report on Form 8-K.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read The Container Store Group’s 8K filing here.

About The Container Store Group

The Container Store Group, Inc operates as a specialty retailer of organizing solutions, custom spaces, and in-home organizing services in the United States. The company operates in two segments, The Container Store and Elfa. Its stores provide custom space offerings; countertop, cosmetic and jewelry, shower and bathtub, drawer organizers, and cabinet storage products; closets that includes shoe storage, hangers, drawer organizers, boxes and bins, hanging storage bags, garment racks, jewelry storage, and bedding.