On January 28, 2026 (the "Petition Date"), Pretium Packaging, L.L.C. and nine (9) affiliated debtors (collectively, the "Debtors") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The Debtors' bankruptcy cases are jointly administered under Case No. 26-10896 before the Honorable Christine M. Gravelle in the United States Bankruptcy Court for the District of New Jersey (the "Bankruptcy Court").

Pretium commenced these chapter 11 cases to implement a highly consensual deleveraging and recapitalization transaction in partnership with its primary equity sponsor and lenders holding approximately 95 percent of the outstanding First Lien Tranche A-1 Term Loans and approximately 95 percent of the outstanding Second Lien Term Loans through a prepackaged chapter 11 plan of reorganization. The proposed transactions are expected to reduce the Company’s funded debt by approximately $900 million, raise new debt and equity financing, and ensure the Company is well capitalized at emergence, all while paying general unsecured creditors in full or reinstating their claims.

In connection with the Chapter 11 process, Pretium has received new money commitments for up to $533.5 million in new debtor-in-possession (“DIP”) financing and access to a $100 million DIP ABL Facility from certain of its financial partners. In connection with its “first day” hearing, Pretium has received interim approval from the Court to access this financing, which, together with cash generated from ongoing operations, will support the business and enable the Company to satisfy its obligations during the restructuring process. The Company has also received interim approval to pay vendors, suppliers, and business partners in full for goods received and services provided before and after the filing.

Pretium’s entities in Mexico, Ireland, and the Netherlands are not included in the US Chapter 11 process.

On February 23, 2026, the Court entered its Findings of Fact, Conclusions of Law, And Order (I) Approving the Disclosure Statement for, and Confirming, the Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Pretium Packaging, L.L.C. and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code, and (II) Granting Related Relief [Docket No. 185] (the "Confirmation Order"), which confirmed the Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Pretium Packaging, L.L.C., et al., pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 185-1] (the "Plan").

On March 20, 2026, the Court entered its Final Decree Closing Certain of the Affiliate Cases as of March 20, 2026 [Docket No. 232] (the "Final Decree"); and designating Poseidon Parent, L.P. as Lead Chapter 11 Case.

For immediate information about the bankruptcy case, ask Stretto Conductor. Additional information about the bankruptcy cases may be obtained by calling the case information line at 855.570.4247 (Toll-Free) or 949.208.7723 (International). You may also submit an inquiry via email by clicking HERE.