Pretium Packaging, LLC, a designer and manufacturer of sustainable packaging solutions, has filed for Chapter 11 bankruptcy protection. The move comes as part of a financial restructuring agreement with lenders to manage debt and aid in long-term growth.
Pretium Packaging, LLC Enters Chapter 11 Proceedings
According to PACER records, Pretium Packaging, LLC made its voluntary filing in the U.S. Bankruptcy Court of the District of New Jersey. The Chapter 11 petition was filed on January 28, 2026.
Judge Christine M. Gravelle is overseeing the case, and the company’s exclusive right to file a Chapter 11 plan expires May 28, 2026.
Alongside the petition, Pretium requested joint administration of related Chapter 11 cases and designation as a complex Chapter 11 case to streamline proceedings.
The company also submitted a proposed Chapter 11 plan with a disclosure statement, outlining an expedited, pre-packaged restructuring process.
Pretium requested the court to permit it to proceed with business in the ordinary course in a series of first-day motions. These motions seek to maintain the company’s cash management system and bank accounts without interruption.
Additional motions seek approval to retain a claims and noticing agent, create an order to transfer and consolidate equity, and redact and consolidate the filing of creditor and customer information as the case continues.
Pretium Packaging Reaches Agreement With Lenders on Debt Restructuring
Pretium Packaging reached a pre-packaged restructuring agreement with its lenders and equity sponsor, Clearlake Capital Group, aimed at strengthening the company’s balance sheet and supporting future expansion. The transaction is expected to reduce Pretium’s funded debt by more than $900 million while providing over $175 million in liquidity.
The company will raise new debt and equity financing as part of the deal, with over $530 million in near-term debt obligations of current lenders and a $50 million in equity financing by Clearlake. The restructuring is supported by approximately 90% of Pretium’s secured lenders, including its asset-based lending partner, Wells Fargo.
In a press release, the CEO, James Rooney, indicated that the restructured, lower-leverage capital structure will enable Pretium to invest in its products, workforce, and customer relationships, positioning the company to grow despite industry headwinds in recent years.
That was echoed by Clearlake leadership, which stated that it remained committed to Pretium and believed that the firm would be able to overcome the tricky market conditions. “Clearlake has been a committed partner to Pretium since 2020, and we’ve watched the business navigate an unprecedented set of macroeconomic challenges in the post-COVID economic environment with remarkable strength,” said Clearlake’s José E. Feliciano, Co-Founder and Managing Partner, and Arta Tabaee, Partner and Managing Director.
“Our new investment in Pretium demonstrates our continued commitment to the business, and we will remain Pretium’s leading equity partner, including drawing on Clearlake’s O.P.S.® capabilities to support Pretium’s growth.”
Pretium stated that it will continue with the normal operations of the business during the process, satisfying customers’ orders as well as vendors and suppliers. The company has filed pre-packaged Chapter 11 petitions to implement the transaction and predicts that the restructuring will be done on a faster schedule.
Company Background and Journey
Pretium Packaging, LLC is a designer and manufacturer of rigid plastic packaging systems that have a broader market base. The company works for food and specialty beverages, healthcare, health and wellness, personal care, beauty, household products, and manufactured goods using PET, HDPE, and polypropylene resins.
The company emphasizes sustainability and quality, incorporating post-consumer recycled materials to meet growing demand for environmentally friendly packaging.
Since its establishment in the early 1990s, Pretium has grown its business on a mix of organic and strategic acquisitions, which assisted the company in developing both a national and international presence near customers.
During its initial years of operation, Pretium acquired companies that were located within the U.S. and Canada, such as Blanke Plastics, Simi Corp, Pocono PET, Robb Container, and Leabrooke, among others.
Over time, the company has expanded its capabilities and market to include businesses like Alpha Packaging and Grupo Edid to further enrich its product offer and market territories.
According to Bloomberg in 2020, Clearlake Capital Group, a private equity firm, acquired Pretium Packaging. The manufacturer later experienced a gradual decline in sales amid multiple market pressures.
In August 2024 Pretium announced that James Rooney had been made the Chief Executive Officer, according to Packaging
Gateway. With more than 30 years of experience in the packaging industry, Rooney succeeded the company’s prior leadership.
The new leader also indicated a strategic growth focus, manufacturing excellence, and customer-based implementation, as the company moved through the changing market conditions.
Pretium has a long history of innovation, responsiveness, and sustainability, which enables it to maintain a reputation as a reliable partner to brands in search of an advanced rigid solution to their packaging needs.
Case Details
Attorney Michael D. Sirota of Cole Schotz P.C. is legally representing Pretium Packaging, LLC in court. Evercore is the investment banker, Kirkland & Ellis is legal counsel, and FTI Consulting is the financial advisor for Pretium in its restructuring process.
More information related to the Chapter 11 case of Pretium Packaging is here:
- Filing Date: January 28, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the District of New Jersey
- Type of Filing: Active, Voluntary Petition
- Chapter: 11
- Case Number: 3:26-bk-10896
- Estimated Assets: $1,000,000,001-$10 billion
- Estimated Liabilities: $1,000,000,001-$10 billion
- Reason for Filing: To implement a pre-packaged debt restructuring with its lenders, significantly reduce its debt burden, and strengthen its capital structure to support long-term operations
The estimated number of creditors is 5,001-10,000, and funds will be available for distribution to unsecured creditors. The company needs to schedule a hearing with the court for approval of the disclosure statement.
As this is a pre-packaged Chapter 11, restructuring plan confirmation could occur relatively quickly once disclosure statement approval and solicitation requirements are satisfied. Several motions filed on January 28 and 29 seek interim and final relief, including cash management, payment of taxes and trade claims, utilities and insurance, and customer programs.
The Chapter 11 filing allows Pretium to address its financial challenges while continuing operations and meeting customer commitments. Following the restructuring, Pretium expects to emerge with a stronger capital structure and greater flexibility to invest in future growth.
