Blue Inc calls off plans for 60 million pound float

Menswear fashion retailer Blue Inc has dropped plans for a stock market flotation,

causing growing concern around the stability of London's stock market.

Blue Inc previously appointed Cantor Fitzgerald as advisor ahead of an IPO, however a source familiar with the matter revealed that the fashion retailer had opted for a private share placement instead.

“There was good institutional support but based on share price performance of most of the other recently floated retail IPOs, the company has decided against going down the IPO route,” said the source to The Telegraph on Wednesday.

The menswear fashion retailer is the latest company to join a growing list of companies which have called of an IPO after announcing their plans to float.