Sandwich chain and general avocado proponent Pret A Manger is planning an IPO, but it looks like London will lose out.
Reports this morning suggested the healthy eating chain, which has been the subject of IPO rumours for some time, is exploring a listing in New York.
Bloomberg said Bridgepoint, the chain's private equity owner, has enlisted JP Morgan and Jefferies to lead a flotation in the Big Apple.
A spokesman for Bridgepoint told City A.M.: "As a committed shareholder in Pret we are always exploring appropriate opportunities to ensure the future growth of the company. If such opportunities materialise, we will update the market."
JP Morgan did not comment. Jefferies did not immediately respond to requests for comment.
Last month Pret posted figures showing sales had risen 15 per cent to £776.2m in the year to the end of December, opening 50 new shops.
It sold 16m croissants, with customers going nuts of coconut porridge, which accounting for one in five porridge sales in the UK.