Madewell Group, a denim-focused apparel brand backed by TPG and Leonard Green, withdrew its plans for an initial public offering on Friday. It originally filed in September 2019 with a proposed deal size of $100 million. The company last updated its prospectus in January 2020, and the following March, parent J. Crew announced that it was suspending the IPO after negotiators couldn't agree on terms.
The New York, NY-based company was founded in 2006 and booked $702 million in sales for the 12 months ended November 2, 2019. It had planned to list on the NYSE but had not selected a ticker. No underwriters had been selected.
