Gail’s IPO: London bakery decides to keep its bread in the oven as it delays flotation
Upmarket London bakery Gail’s has delayed until the new year plans to float on the stock market.
The company, which has 17 bakeries in the capital’s more affluent neighbourhoods, such as Barnes, Dulwich Village and Hampstead, is part owned by serial entrepreneur Luke Johnson, who is also chairman.
Earlier this year, Johnson’s investment firm, Risk Capital Partners, floated Patisserie Valerie on the junior Aim market.
According to a report in the Sunday Telegraph, Gail’s held talks about its listing with City brokerage FinnCap in recent weeks but no fixed timetable was set. It is believed it was decided, following discussions with the broker, that the firm needed to grow further to generate the level of return with which shareholders would be happy. Valerie’s float, market turmoil has led to a number of companies pulling float plans.