A semi-collapsible container has a hollow body with support and collapsible portions, and can be maintained in a collapsed or an expanded condition. The container is useful for storing liquid, and is especially adapted in its collapsed condition for storing relatively small volumes of concentrated liquid, powders or the like, and in its expanded condition for containing larger volumes of liquid. Via a dispenser in the container, a closure assembly is coupled to the container for securing the contents thereof from leakage.