Dec. 01--Jimmy John's has abandoned plans to take the sandwich chain public after months of consideration, the company's founder said Tuesday.
Jimmy John Liautaud, who started the chain in 1983, said in an email that the company has "halted the process," choosing instead to focus on expanding the business without the help of Wall Street.
But Liautaud said he would not rule out going public in the future.
"Never is a long time," he said. "All options on the table."
Liautaud opened the first Jimmy John's in downstate Charleston after high school with $25,000 from his father. He enrolled at Eastern Illinois University, only to drop out before finishing the first semester to grow his business.
There are now 2,300 locations nationwide, most of them run by franchisees. Liautaud said in an interview last month that he hopes to double that number in the next five years, and expand internationally.
The decision to cancel the initial public offering was first reported by Bloomberg.
sbomkamp@tribpub.com
