Nordstrom puts hunt for a buyer on hold

SEATTLE -- Nordstrom is halting, at least temporarily, the search for a buyer.

Shares tumbled 5 percent at the opening bell Monday.

The retailer said in a regulatory filing that several members of the Nordstrom family told the company's special committee that they are suspending actively looking to close on a sale this year.

The company will again be looking into a possible deal after the holiday season ends.

In June Nordstrom Inc. announced that members of the Nordstrom family including co-presidents Blake, Peter and Erik Nordstrom were considering making an offer to buy out the 70 percent of the department store's stock they don't already own.