California Pizza Kitchen Said to Prep Debt Deal as It Eyes Sale

California Pizza Kitchen Inc. is looking to refinance debt from its bankruptcy exit as its owners mull a potential sale or initial public offering of the pizza chain, according to people with knowledge of the matter.

The Los Angeles-based chain has tapped Guggenheim Partners LLC to advise on the refinancing, which would target the $177 million of debt left on its balance sheet after it emerged from bankruptcy last November, the people said, who asked not to be identified discussing confidential matters.

The exact timing of the refinancing has not been decided, but it could be launched in the coming ...