A proposed IPO arrangement for Boost Juice owner Retail Zoo is off the chopping block, following an announcement that private equity firm and part-owner Bain Capital had pulled the potential listing.

According to reports, Bain Capital cited increasing market volatility as the cause for the retreat, and the equity firm isn’t alone in its thinking.

The Retail Zoo IPO is the latest in a series of recent listings that have fallen through, including one hailed as the country’s biggest of the year – private equity giant KKR & Co and partners cancelling the float of lender Latitude Financial last week.

“Market conditions will be monitored going forward,” a Bain Capital spokesman told Reuters on Wednesday.

Retail Zoo was started by Boost Juice founder and Shark Tank investor Janine Allis and her husband Jeff and has been a key player in the franchised space. In 2014, US-based private equity firm Bain Capital acquired a 70 per cent stake in the company.

The firm worked to increase market share over a four-year period, particularly under the Boost Juice brand. The franchise icon accounted for over half of the Retail Zoo’s revenue last financial year, claiming a reported 60 per cent market share in juice and smoothie bars.

However, despite the strong results, reports that Bain was looking to list the company emerged late last year.

Bain Capital’s decision to pull the plug on the Boost Juice owner sell-off means the equity firm will no longer embark on its proposed management roadshow. The firm, along with Retail Zoo had intended to cornerstone its IPO, taking market value to around $300m.

However, reports indicated the company had failed to secure support from investors.

It was a big blow for the company, which operates close to 600 franchised stores, alongside 47 company-owned stores under the Boost Juice, Betty’s Burgers & Concrete Co, Cibo Espresso and Salsas brands.