Clearlake-Owned Pretium Packaging Files for Bankruptcy

Pretium Packaging, owned by private equity firm Clearlake Capital Group, has filed for bankruptcy after reaching a deal with lenders to overhaul a capital structure strained by years of heavy debt.

The maker of plastic containers filed Chapter 11 protection in the District of New Jersey, according to court filings. The company reported both assets and liabilities of $1 billion to $10 billion.

The Missouri-based company has faced pressure from its debt load in recent years. In 2023, it restructured its first-lien term loan and raised new financing to ease cash pressures, steps that provided only temporary ...