A container especially suitable for bulk materials and including a cardboard tubular sleeve having its lower edge portion positioned in upwardly opening groove means on a plastic pallet. The tubular sleeve is a sleeve assembly comprising inner and outer tubular sleeves respectively formed of first and second corrugated cardboard structures with the inner sleeve positioned telescopically within the outer sleeve and with the outer annular surface of the inner sleeve secured to the inner annular surface of the outer sleeve to form a composite sleeve assembly having a thickness approximately the width of the groove means on the pallet. An auxiliary cardboard sheet is secured to the outboard surface of the outer tubular sleeve and an auxiliary cardboard sheet is secured to the inboard surface of the inner cardboard sleeve. A vinyl sheet is adhesively secured to the auxiliary cardboard sheet of the outer tubular sleeve and a further vinyl sheet is adhesively secured to the auxiliary cardboard sheet of the inner tubular sleeve so that, with the inner and outer tubular sleeves telescopically assembled, the vinyl sheets form the inner and outer annular surfaces of the composite sleeve assembly. The vinyl sheets also cover the upper and lower annular end edges of the sleeve assembly so as to make the sleeve assembly substantially moisture impervious. Also disclosed is a method for folding the sleeve assembly into a totally flat collapsed configuration to facilitate storage and shipment.