UPDATE 1-Justworks, The Fresh Market scrap IPO plans amid equities rout
(Adds Justworks' plans)
July 13 (Reuters) - Food retailer The Fresh Market Holdings Inc (TFM) and human resources software platform Justworks Inc shelved plans for their initial public offerings on Wednesday.
While the companies did not give a reason for the move, the U.S. IPO market has hit a slump in recent months as recession fears and the fallout from the Ukraine crisis hammer equities.
Justworks had originally filed for its IPO in December and was seeking to raise up to $224 million. But it decided to delay the listing in January amid a selloff in technology stocks.
The New York-based company's cloud-based platform enables small- and medium-sized businesses to handle payroll, benefits, compliance and human resources.
TFM's decision to scrap its listing plans comes nearly two months after Chilean retail group Cencosud struck a $676 million deal to buy a 67% stake in the company.
The food retailer, which also sells meat, seafood, dairy products, beer and wine, was taken private by Apollo Global Management Inc in 2016 in a $1.36 billion deal. It had filed for its IPO in July last year.
(Reporting by Niket Nishant in Bengaluru; Editing by Shinjini Ganguli and Aditya Soni)
