Nordstrom puts hunt for a buyer on hold
SEATTLE — Nordstrom is halting, at least temporarily, the search for a buyer.
Shares tumbled 5 percent at the opening bell Monday.
The retailer said in a regulatory filing that several members of the Nordstrom family told the company’s special committee that they are suspending actively looking to close on a sale this year.
The company will again be looking into a possible deal after the holiday season ends.
In June Nordstrom Inc. announced that members of the Nordstrom family including co-presidents Blake, Peter and Erik Nordstrom were considering making an offer to buy out the 70 percent of the department store’s stock they don’t already own.