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Pretium Packaging files for pre-packaged Chapter 11 to restructure debt
['Vidhya Edwards Munnangi']
News - Packaging Gateway
Pretium has filed pre-packaged Chapter 11 petitions with the US bankruptcy court for the District of New Jersey.
Pretium Packaging has confirmed a pre-packaged Chapter 11 bankruptcy process after entering an agreement with its current lenders and majority owner, Clearlake Capital Group.
By GlobalData Learn more about Strategic IntelligenceThe company said it will meet all obligations to suppliers and vendors for deliveries made before and after the Chapter 11 filing.
Pretium indicated it remains in talks with other key stakeholders and expects to finalise the restructuring promptly.
To proceed with the transaction, Pretium has filed pre-packaged Chapter 11 petitions with the US bankruptcy court for the District of New Jersey.