99 Cents Only Stores Hires Advisers to Help Restructure Debt
- Company taps Guggenheim Partners to help with debt amendment
- Struggling retail chain was taken private in 2011 deal
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99 Cents Only Stores has hired Guggenheim Partners to help cope with its $1 billion in debt, according to two people with knowledge of the matter, becoming the latest retail chain seeking assistance with a borrowing wall.
The deep-discount retailer, which was taken private by Ares Management and Canada Pension Plan Investment Board in 2011, also brought in law firms Proskauer Rose LLP and Milbank Tweed Hadley & McCloy LLP, said the people, who asked not to be identified because the deliberations are private.