Filing Details

Accession Number:
0001104659-24-013538
Form Type:
13G Filing
Publication Date:
2024-02-11 19:00:00
Filed By:
Glendon Capital Management
Company:
Container Store Group Inc. (NSE:TCS)
Filing Date:
2024-02-12
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Glendon Capital Management 6. 4,763,546 8. 4,763,546 4,763,546 9.2%
Matthew Barrett 6. 4,763,546 8. 4,763,546 4,763,546 9.2%
Glendon Opportunities Fund II 6. 3,229,513 8. 3,229,513 3,229,513 6.3%
Filing
 

  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934
(Amendment No. 1 )*

 

Container Store Group, Inc 

(Name of Issuer)

 

Common Stock, par value $0.01 per share 

(Title of Class of Securities)

 

210751103 

(CUSIP Number)

 

Calendar Year 2023 

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

x Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 

 

 

 

 

 

CUSIP No.  210751103
 
  1. Names of Reporting Persons
Glendon Capital Management LP 46-1394333
 
  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) o
    (b) o
 
  3. SEC Use Only
 
  4. Citizenship or Place of Organization
Delaware
     
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
5.

Sole Voting Power

 
6. Shared Voting Power
 4,763,546
 
7. Sole Dispositive Power
 
 
8. Shared Dispositive Power
4,763,546
 
  9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,763,546
 
  10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨
 
  11. Percent of Class Represented by Amount in Row (9)
9.2%
 
  12. Type of Reporting Person (See Instructions)
IA
           

FOOTNOTES

 

This amount reflects holdings as of February 12, 2024.

Percentage ownership is calculated on 51,611,770 shares of Common Stock outstanding as of February 2, 2024, as Disclosed in the Issuer's Form 10-Q for the quarterly period ended December 30, 2023 as filed with the SEC on February 7, 2024.

 

 

  

CUSIP No.  210751103
 
  1. Names of Reporting Persons
Matthew Barrett
 
  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) o
    (b) o
 
  3. SEC Use Only
 
  4. Citizenship or Place of Organization
United States
     
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
5.

Sole Voting Power

 
6. Shared Voting Power
 4,763,546
 
7. Sole Dispositive Power
 
 
8. Shared Dispositive Power
4,763,546
 
  9. Aggregate Amount Beneficially Owned by Each Reporting Person
4,763,546
 
  10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨
 
  11. Percent of Class Represented by Amount in Row (9)
9.2%
 
  12. Type of Reporting Person (See Instructions)
IN, HC
           

FOOTNOTES

 

This amount reflects holdings as of February 12, 2024.

Percentage ownership is calculated on 51,611,770 shares of Common Stock outstanding as of February 2, 2024, as Disclosed in the Issuer's Form 10-Q for the quarterly period ended December 30, 2023 as filed with the SEC on February 7, 2024.

 

 

 

CUSIP No.  210751103
 
  1. Names of Reporting Persons
Glendon Opportunities Fund II, L.P. 82-1515613
 
  2. Check the Appropriate Box if a Member of a Group (See Instructions)
    (a) o
    (b) ¨
 
  3. SEC Use Only
 
  4. Citizenship or Place of Organization
Cayman Islands
     
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
5.

Sole Voting Power

 
6. Shared Voting Power
3,229,513
 
7. Sole Dispositive Power
 
 
8. Shared Dispositive Power
3,229,513
 
  9. Aggregate Amount Beneficially Owned by Each Reporting Person
3,229,513
 
  10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨
 
  11. Percent of Class Represented by Amount in Row (9)
6.3%
 
  12.

Type of Reporting Person (See Instructions)

PN 

           

FOOTNOTES

 

This amount reflects holdings as of February 12, 2024.

Percentage ownership is calculated on 51,611,770 shares of Common Stock outstanding as of February 2, 2024, as Disclosed in the Issuer's Form 10-Q for the quarterly period ended December 30, 2023 as filed with the SEC on February 7, 2024.

 

 

 

 

Item 1.

  (a) Name of Issuer
Container Store Group, Inc
  (b) Address of Issuer’s Principal Executive Offices
500 Freeport Parkway, Coppell, TX 75019
 
Item 2.
  (a)

Name of Person Filing
(1)   Glendon Capital Management L.P.

(2)   Matthew Barrett

(3)   Glendon Opportunities Fund II, L.P.

  (b)

Address of Principal Business Office or, if none, Residence
(1)   Glendon Capital Management L.P.: 2425 Olympic Blvd., Suite 500E, Santa Monica, CA 90404

(2)   Matthew Barrett: 2425 Olympic Blvd., Suite 500E, Santa Monica, CA 90404

(3)   Glendon Opportunities Fund II, L.P.: Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Rd, Georgetown, Grand Cayman, KY1-9008 Cayman Islands

  (c)

Citizenship
(1)   Glendon Capital Management L.P.: Delaware limited partnership

(2)   Matthew Barrett: United States Citizen

(3)   Glendon Opportunities Fund II, L.P.: Cayman Islands exempted limited partnership

  (d) Title of Class of Securities
Common Stock, par value $0.01 per share
  (e) CUSIP Number
210751103
 
Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
  (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
  (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
  (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
  (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
  (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
  (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
  (g) x A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
  (h) ¨ A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
  (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
  (j) ¨ A non-U.S. institution in accordance with § 240.13d–1(b)(1)(ii)(J);
  (k) ¨

Group, in accordance with § 240.13d–1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with § 240.13d–1(b)(1)(ii)(J), please specify the type of institution:____________________________

 

 

 

Item 4. Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
  (a)

Amount beneficially owned:

(1) Glendon Capital Management L.P.: 4,763,546

(2) Matthew Barrett: 4,763,546

(3) Glendon Opportunities Fund II, L.P.: 3,229,513

  (b)

Percent of class:

(1) Glendon Capital Management L.P.: 9.2%

(2) Matthew Barrett: 9.2%

(3) Glendon Opportunities Fund II, L.P.: 6.3%

  (c) Number of shares as to which the person has:
    (i)

Sole power to vote or to direct the vote

(1) Glendon Capital Management L.P.: 0

(2) Matthew Barrett: 0

(3) Glendon Opportunities Fund II, L.P.: 0

    (ii)

Shared power to vote or to direct the vote

(1) Glendon Capital Management L.P.: 4,763,546

(2) Matthew Barrett: 4,763,546

(3) Glendon Opportunities Fund II, L.P.: 3,229,513

    (iii)

Sole power to dispose or to direct the disposition of

(1) Glendon Capital Management L.P.: 0

(2) Matthew Barrett: 0

(3) Glendon Opportunities Fund II, L.P.: 0

    (iv)

Shared power to dispose or to direct the disposition of

(1) Glendon Capital Management L.P.: 4,763,546

(2) Matthew Barrett: 4,763,546

(3) Glendon Opportunities Fund II, L.P.: 3,229,513

 
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following   ¨.
  N/A
Item 6. Ownership of More than Five Percent on Behalf of Another Person
  N/A
Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

 

N/A

Item 8. Identification and Classification of Members of the Group
  N/A
Item 9. Notice of Dissolution of Group
  N/A

 

 

 

Item 10. Certification

 

Signature

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 12, 2024

 

  Glendon Capital Management L.P.
     
  By: /s/ Haig Maghakian
    Name: Haig Maghakian
    Title: Chief Compliance Officer / General Counsel
     
  Matthew Barrett
     
  By: /s/ Matthew Barrett
    Name: Matthew Barrett
    Title: Individual
     
  Glendon Opportunities Fund II, L.P.
     
  By: /s/ Haig Maghakian
    Name: Haig Maghakian
    Title: Authorized Person

 

ATTENTION

     
     
Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).