Pretium Packaging filed for Chapter 11 in a New Jersey bankruptcy court, setting in motion a pre-packaged restructuring designed to carve more than $900 million off the Missouri-based company’s funded debt and stabilize its balance sheet. The filing late Wednesday lays out a fast-track plan aimed at shoring up liquidity and positioning the packaging manufacturer for a stronger post-bankruptcy future. Balance Sheet Under Court ProtectionIn court papers, Chief Financial Officer J. Federico Barreto said Pretium and nine affiliated entities each report between $1 billion and $10 billion in assets and liabilities. Signup for the USA Herald exclusive Newsletter First Name Email Address: Leave this field empty if you're human:Lenders and Sponsor Back the PlanPretium said it reached an agreement with its existing lenders and equity sponsor, Clearlake Capital Group LP, to pursue the pre-packaged Chapter 11 transaction. That package includes more than $530 million in new near-term debt commitments from current lenders, a $50 million equity infusion from Clearlake and a $100 million exit asset-based lending facility once Pretium emerges from Chapter 11.