LONDON – British fast-fashion retailer New Look has put its initial public offering on ice just a week after announcing plans to list on the London Stock Exchange.
The company cited “the unfavorable market backdrop,” as the reason for its decision. Carl McPhail, chief executive of New Look, said in a statement Friday: “We have taken the difficult decision to postpone the [IPO] as a result of considerable volatility in the equity markets,” he said. “We will reevaluate our options when market conditions improve.”
New Look’s decision follows news earlier this week that Travelport, the airline ticketing company, and Merlin Entertainments Group, a theme parks operator, had both postponed their plans to list on the London Stock Exchange, also due to volatile market conditions.