The company, which owns the holidaycottages.co.uk brand, said last month it was planning to float on the London Stock Exchange’s AIM market for smaller companies, after benefiting from a “staycation boom” during the pandemic as Brits decided to take more domestic breaks.
But the company issued a statement on Friday (12 November) saying that it had “decided to postpone its proposed initial public offering”.
“Although Travel Chapter received considerable institutional investor support for the group’s business model, growth strategy and management team, the board and shareholders have decided that proceeding with an initial public offering in this period of market volatility is not in the best interests of the group and its stakeholders,” added Travel Chapter.
The firm primarily markets its properties through holidaycoattages.co.uk, supported by more than 30 additional regional and lifestyle brands.
