WSJ: Preferred Sands Hires Restructuring Advisers
The Wall Street Journal reported that sources said Preferred Sands Holding hired restructuring advisers at law firm Paul, Weiss, Rifkind, Wharton & Garrison as it handles a high debt load and weak operating results.
The company may file for bankruptcy protection, and is still examining opportunities for an out-of-court restructuring, sources told the WSJ. Barclays, the company’s lender and KeyBanc Capital Markets, could provide a DIP loan in the event of a Chapter 11 filing, the sources also told the WSJ.
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