Deals
Nordstrom Suspends Buyout After Struggling to Get Financing
- Announcement sends shares of department-store chain tumbling
- A review of options will continue after the holiday period
Nordstrom Suspends Active Exploration to Go Private
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Nordstrom Inc. is suspending efforts to take the company private after struggling to get financing with favorable terms, another sign that the department-store industry has lost favor with both customers and investors.
The controlling members of the Nordstrom family will renew a review of its operations after the holiday season, the company announced on Monday. In scrubbing the deal for now, the Seattle-based company cited “the difficulty of obtaining debt financing in the current retail environment.”