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Jimmy John's Founder Abandons IPO, Saying He's Not a Wall Street Guy

  • He says `table was set' to go public before he pulled back
  • Founder wants to stay focused on expanding sandwich chain
A Jimmy John's store in Philadelphia, Pa.

A Jimmy John's store in Philadelphia, Pa.

Photographer: Gilbert Carrasquillo/Getty Images

Jimmy John’s, the sandwich chain with about 2,300 restaurants across the U.S., has shelved plans for an initial public offering.

Founder Jimmy John Liautaud, a majority owner of the company, said he spent the past two years talking to bankers and exploring an IPO before deciding that he wanted to stay focused on running the business he started in 1983.