Retail chain Mattress Firm Inc. has hired Guggenheim Partners to negotiate a debt restructuring with corporate parent Steinhoff International Holdings NV, according to people familiar with the matter.
Guggenheim is trying to strike a deal to restructure the hundreds of millions of debt Mattress Firm owes to Steinhoff SNH, +0.92% , the troubled South African owner of retail brands. The debt talks may end in an effort by Guggenheim to sell the mattress retailer, according to the people.
Guggenheim is early in its efforts at Mattress Firm, and no bankruptcy is contemplated currently, the people said.
Mattress Firm also is working with AlixPartners, which is helping to assess its store footprint and liquidity issues, The Wall Street Journal previously reported.
Also popular on WSJ.com: