Shares of Nordstrom, Inc. (JWN – Get Report) tumbled over 5% in premarket trading Monday, Oct. 2, after insiders said talks to take the Seattle-based retailer private could be in danger of failing, according to the New York Post.
The Nordstrom family announced it was exploring a possible buyout in June and was said to be nearing a deal with private equity firm Leonard Green & Partners last month. But a struggling retail landscape has caused jitters among lenders, sources said.
“The financing has not worked out. I hear that the Nordstrom financing is not done and no one knows if it can be done,” a source told the Post.