Filing Alert: Pretium Packaging Chapter 11
Pretium Packaging, L.L.C., a St. Louis, MO-based designer and manufacturer of rigid plastic containers and closures, filed for Chapter 11 protection on Janua...
Pretium Packaging, L.L.C. and its debtor affiliates⁽¹⁾, a St. Louis, MO-based designer and manufacturer of rigid plastic containers and closures, filed for Chapter 11 protection on Jan. 28 in the U.S. Bankruptcy Court for the District of New Jersey.
The prepackaged filing aims to implement a balance sheet restructuring pursuant to a Restructuring Support Agreement (RSA) with sponsor Clearlake Capital Group and an ad hoc group of lenders. The debtors, which reported approximately $1.84 billion in funded debt and only $6.4 million in cash at filing, faced liquidity constraints driven by post-pandemic demand normalization, inventory destocking, and rising interest rates on floating-rate obligations.
Following a liability management transaction in 2023, the company encountered further headwinds from a late 2025 ratings downgrade and vendor tightening. To fund the cases, the debtors have secured a DIP ABL facility to refinance their prepetition ABL facility and support ongoing operations.
The company reports $1 billion to $10 billion in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-10896.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Counsel:
- Michael D. Sirota
Cole Schotz P.C.
Email: msirota@coleschotz.com
General Bankruptcy Counsel:
- Kirkland & Ellis LLP
- Kirkland & Ellis International LLP
Financial Advisor:
- FTI Consulting, Inc.
Investment Banker:
- Evercore Group L.L.C.
Signatories:
- J. Federico Barreto – Chief Financial Officer, Secretary and Treasurer
Claims Agent:
Equity Security Holders:
- Pretium Holding, LLC – 100% Equity Interest