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.

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