LONDON (Reuters) - British outdoor clothing chain Fat Face said on Thursday it was pulling a planned 110-million-pound listing in London due to poor equity market conditions, adding to signs a window for flotations may be closing.
The company, which is owned by European private equity firm Bridgepoint, had aimed to fund its international expansion via the listing, which valued the firm at 440 million pounds
Bridgepoint paid rival private equity firm Advent 360 million pounds for Fat Face in 2007, but the investment has proved difficult as the retailer struggled to find its niche.
Bridgepoint subsequently injected three further investments of 25 million pounds in total.
Fat Face, which sells clothes targeted at an active lifestyle, recently abandoned attempts to target younger shoppers and returned to its middle-aged core market - guided by former Marks and Spencer head Stuart Rose, who joined it as chairman in 2013.
The flotation was due to be led by Citigroup and Jefferies, with Canaccord Genuity as lead manager and Lazard as financial adviser.
Reporting by Freya Berry; Editing by Erica Billingham and John Stonestreet