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Neiman Marcus is pulling its IPO

Portia CroweJan 6, 2017, 23:57 IST

Christmas Tree at Neiman MarcusFlickr/Josiah Mackenzie

The luxury retailer Neiman Marcus has requested to withdraw its initial public offering.

The company, which filed for its flotation in August 2015, said in a statement it had "determined that it is not in its best interests to proceed with the initial public offering."

The private equity firms TPG Capital and Warburg Pincus in 2013 sold Neiman Marcus to the Canadian Pension Plan and Ares Management.

More to come...

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