A vertical conveyor for continuously loading and unloading into or from storage spaces is proposed. The vertical conveyor comprises a lower feed or removal device, a drive device arranged in the vertical region and a removal or feed device interacting with the drive device in the upper region. Arranged in a carrier pipe in an S-shape are at least two endless chains which are provided with drivers for the piece goods. A guide, the distance of which from the chains can be adjusted, supports the piece goods against tipping over. <IMAGE>