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Though it isn’t providing any details, J.Crew Group Inc. is delaying its initial public offering into early 2006, the company says.
Though it isn’t providing details, J.Crew Group Inc. is delaying its initial public offering. J. Crew, No. 65 in the Internet Retailer Top 400 Guide to Retail Web Sites, filed for an IPO in August that could raise as much as $200 million in new working capital.
Now J. Crew is delaying the IPO until early next year, the company says. “There has been a delay in the timing of the IPO and the management of the company now believes the IPO will take place in early 2006,” J. Crew says.
J. Crew will use part of the IPO proceeds to grow its e-commerce business. Sometime before the end of the year, J. Crew is expected to launch JCrewFactory.com, a new online bargains site.