Frac sand co. Hi-Crush plans to seek bankruptcy protection after major job cuts

Hi-Crush Inc., which provides frac sand and other proppant and logistics services for hydraulic fracturing operations, is working toward a bankruptcy filing after cutting more than half of its workforce earlier this year.

The Houston-based company said in a June 25 press release that it hired unspecified advisers for the bankruptcy process. Hi-Crush has been working to negotiate with holders of its 9.50% senior unsecured notes due 2026 and the lenders for its senior secured revolving credit facility…