Packaging Crisis: 1 Company’s Shocking Debt Deal Revealed NOW!
Could a major packaging company secretly be battling severe financial distress? Pretium Packaging, a key player in rigid and sustainable plastic containers, has reportedly struck a crucial deal with its lenders to restructure its substantial debt and ensure ongoing operations. Despite being acquired by private equity giant Clearlake Capital Group in 2020, Pretium has struggled with declining consumer demand and soaring inflation, leading to significant sales reductions and a heavy interest burden. Under the new arrangement, Clearlake Capital will remain the principal shareholder and may even contribute additional funds alongside existing lenders to stabilize the company. With a new CEO, James Rooney, at the helm, the company aims to navigate these challenging waters and continue paying its trade vendors. Stay informed about the future of industrial giants by subscribing to our channel for more breaking business news.
Tags/Hashtags:
Leave a Reply