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Blue Inc scraps IPO plans

Blue Inc has abandoned plans for a stock market flotation, electing instead for a private sale.

The fashion retailer had been mooting an initial public offering (IPO) and in May appointed Cantor Fitzgerald to advise it through the process, but a source close to the situation said it had chosen to sell to private investors, according to Drapers sister title Retail Week.

It is understood the decision was made following a spate of disappointing IPOs in the sector.

An announcement had been expected tomorrow on the offer price, with analysts predicting the retailer would be valued at around £60m.

The retailer joins a number of high-profile companies to lose heart after announcing their intentions to float.

Earlier this week M and M Direct announced it had opted for a private sale despite making preparations to list on the market, and in May Fat Face also abandoned an IPO.


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