Abstract: A foldable storage device for carrying by a handle in a closed condition and hanging by a hanging mechanism in an open condition folds along a spine on which the handle is mounted. The folding portions of the device extend downward from the spine when carried by the handle such that they tend toward the closed condition to prevent unintentional opening and minimize loading on closing fasteners. Relatively large storage devices can be made without reducing carrying comfort or increasing hanging width. Supporting elements on the folding portions are protected and hidden in the closed position and fully displayed in the open condition to facilitate quick and easy access.