May 7, 2008 / 3:44 PM / 10 years ago

UPDATE 2-Harry & David withdraws planned IPO

(Adds Dealogic data on IPO withdrawals)

LOS ANGELES, May 7 (Reuters) - Specialty retailer Harry & David Holdings Inc on Wednesday filed with U.S. regulators to withdraw its planned initial public offering, citing market conditions.

Last August, the Medford, Oregon-based seller of gourmet food products and other gifts had filed for an IPO of up to $125 million.

Retailers and restaurants have since been hard-hit by the U.S. economic slowdown, which, combined with a global credit crunch, has put a chill on initial public offerings.

So far this year, 36 companies that had announced plans for IPOs in the United States have withdrawn those plans, according to Dealogic.

That’s up from the same period in 2007, when 23 companies withdrew IPO plans, the data tracking company said. (Additional reporting by Sayantani Ghosh in Bangalore) (Reporting by Lisa Baertlein, editing by Gerald E. McCormick)

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