An insulated container has a front, back, top and bottom. Pairs of mating members are located on the front and pairs of mating members are located on the back to maintain the container in a collapsed state. The mating members on the front are positioned such that the mating members form a connection when the top of the container is folded on top of the front of the container. The mating members on the back are position such that the mating members form a connection when the bottom of the container is fold on top of the back of the container. In some embodiments, the mating members are positioned on portions of handles attached to the container.