Building materials company Cornerstone Building Brands has hired AlixPartners, a turnaround consulting firm, to negotiate with creditors regarding its nearly $5 billion debt load. The North Carolina-based firm, backed by private-equity firm Clayton Dubilier & Rice, is in discussions to restructure its loans, extend debt maturities, and raise new capital, according to sources. This move signals significant financial pressure on the company, which operates in a competitive building materials market. Cornerstone's nearly $5 billion debt represents a substantial burden, and the restructuring efforts aim to alleviate this pressure and stabilize its financial position.

The involvement of a prominent PE backer like Clayton Dubilier & Rice suggests the company is seeking strategic support alongside financial restructuring. The outcome of these negotiations will be closely watched by investors and creditors alike, as it could impact the company's ability to fund operations and pursue growth initiatives. AlixPartners' expertise in complex restructurings positions them well to navigate this challenging situation for Cornerstone.