Nordstrom, Inc. (NYSE:JWN) stock was down on Monday following news that it is putting its plans to go private on hold.

Nordstrom, Inc. says that the members of the Nordstrom family aren’t going to proceed with plans to take the company private. This news came from Co-Presidents Blake W. Nordstrom, Peter E. Nordstrom and Erik B. Nordstrom, as well as other members of the family.

According to a statement from Nordstrom, Inc., the plans to take the company private will go on hold for the remainder of the year. The Nordstrom family says that it will move forward with the plans again once the holiday season is over.

“The Special Committee, which is committed to protecting the interests of the Company and all its shareholders, is prepared to thoroughly evaluate such a proposal from the Group at that time, if one is made,” Nordstrom, Inc. said in a press release. “In the meantime, the Company and its employees will remain focused on running the business and delivering the best shopping experience for customers.”

Nordstrom, Inc. notes that its Special Committee for overlooking the offer to take the company private is getting financial advice from Centerview Partners LLC. It’s legal advisor is Sidley Austin LLP. The company also points out that there is no guarantee an offer will be made to take JWN private, or that it will accept an offer that is made.

JWN stock was down 6% as of noon Monday and is down 16% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.