Abstract: A tool chest includes a lidded base defining a storage compartment therein and a pegboard-type tool pallet adapted to carry tools on an obverse side thereof and shiftable between a first position overlying and covering the storage compartment with the obverse side up, and a second position upstanding from the rear end of the base with the obverse side forward and supported against the open lid for uncovering and providing access to the storage compartment. In one embodiment the pallet is pivotally connected to the base with a link arm and has handles for lifting the pallet between its first and second position. In a second embodiment the pallet is pivotally connected to the lid so that when the lid is opened it pulls the pallet up to its second position. The front end of the pallet has pins or rollers supported on guide rails for guiding movement between the first and second positions.