Textile giant Guilford Mills Inc could be sold after it retained Goldman Sachs & Co as its financial adviser to explore ways to boost shareholder value which could include its sale.

The North Carolina-based firm, which emerged from Chapter 11 a year-ago this month as an automotive, technical textile and apparel farbrics, said Goldman Sachs will help it explore "possible strategic alternatives".

"Such alternatives may include a possible sale of Guilford Mills, although Guilford Mills notes there is no assurance as to when any transaction will occur or if any transaction will occur at all," it added in a statement.