Disclosed is a collapsible container comprised of a top panel, a bottom panel, at least one intermediate panel, at least one side wall, and at least one divider panel. Each of the panels and the side wall may be covered with flexible material such that the collapsible container is movable between an expanded position and a collapsed position. The top panel is spaced apart from the bottom panel with the intermediate panels being interposed therebetween in spaced relation. The side wall partially extends around the top, bottom and intermediate panels to partially enclose the collapsible container and define a plurality of compartments with an opening to each compartment. Each one of the top, intermediate and bottom panels has a tension loop extending therearound and configured to outwardly urge the top, bottom and intermediate panel perimeters such that the top, intermediate and bottom panels are generally held taut. A retainer member extends across a lower portion of the openings to help retain articles in the compartments.