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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
Bloomberg business news

Nordstrom Suspends Active Exploration to Go Private

Updated on

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.”