Abstract: A heat retaining container for maintaining heated food warm for a considerable period of time and method of making same that includes an outer cover formed of a rectangular blank of sheet material having reversely folded marginal portions to define opposed end pockets, and an insulating liner formed by opposed sheets of heat reflecting material having sandwiched therebetween a layer of gas impervious cells or bubbles filled with a gaseous medium, e.g. air. The opposed ends of the liner are inserted into the opposed end pockets of the cover blank whereby the cover blank and liner are reversely folded to define overlying panel portions, one of said panel portions being slightly greater to define a flap for sealing the open end. The opposed side edges of the reversely folded blank are suitably secured together in the assembled position of the container, and a fastener is provided for securing the flap in the closed position.