Latest Pro-Pac Packaging (Asx:Ppg) News

Pro-Pac Packaging has entered voluntary administration, leading to the redundancy of its CEO and an extended timeline for creditor meetings in Australia and New Zealand.

Pro-Pac Packaging has entered voluntary administration, securing relief to defer its financial reporting and annual general meeting obligations for up to two years. This move pauses key corporate governance duties as the company navigates its restructuring.

Pro-Pac Packaging Limited has appointed voluntary administrators as it confronts financial distress, initiating a process to stabilise operations and explore strategic options including sale or recapitalisation.

Pro-Pac Packaging is progressing a strategic review involving potential asset sales and liquidity support, with ASX trading suspension imminent pending financial disclosures.

Pro-Pac Packaging reported a modest revenue increase to $62.8 million in Q4 FY25, secured a new $3 million loan facility from major shareholder Bennamon Ltd, and received a $3.5 million government grant for a recycling project facing delays.

Pro-Pac Packaging reported a $6.2 million revenue decline for the March 2025 quarter and extended a key $13 million short-term finance facility with Bennamon Pty Ltd to March 2026, while continuing a strategic review focused on profitability and funding.

Pro-Pac Packaging has updated its quarterly cash flow report, highlighting a net cash outflow from operations and outlining plans to improve margins and secure longer-term funding.

Pro-Pac Packaging reported a revenue increase to $73.1 million for Q2 FY25, supported by new financing facilities and a fresh CEO appointment, while navigating cash flow pressures and challenging market conditions.