Nordstrom postpones search for buyout partner

Earlier this month, FashionUnited reported that Nordstrom's plans for privatization had stalled due to issues with financing.

According to Business of Fashion Nordstrom is temporarily halting its search for a buyout partner.

Nordstrom's shares were down 5 percent as of this morning.

In a regulatory filing, members of the Nordstrom family said they were suspending their attempt to close on a sale this year. As the holiday season approaches, it can be very tough to do deals in retail sector, as most companies and investors are focused on performance for the peak holiday season. Nordstrom will continue its search after the holiday season ends.

A representative for Nordstrom wasn't immediately available for comment.