Supermarket chain Albertsons plans to postpone its planned initial public offering, and a source familiar with the matter told CNBC Thursday it would likely come before the Thanksgiving holiday.
Earlier in the day, the company said it was postponing the IPO indefinitely due to "market volatility." An Albertsons spokesman declined to say how long the IPO may be delayed.
The company already delayed its plans to go public Wednesday as retailer Wal-Mart's shares were crushed by disappointing sales and earnings guidance. Albertsons, which is owned by private-equity firm Cerebus Capital Management and other sponsors, originally planned to raise as much as $1.95 billion in an IPO priced between $23 and $26 per share.
However, on Thursday Albertsons seemed to be pricing in under $20. The company said it is considering releasing updated financials in order to improve investor comfort.