Panera calls off IPO

Panera Brands, the St. Louis-based parent company of Panera Bread, called off plans for an initial public offering.

Company officials cited lackluster economic conditions, as well as a slow IPO market in recent months.

Panera had planned to go public through a merger deal with USHG Acquisition Corp., a shell company controlled by Shake Shack founder Danny Meyer.

Read more from the St. Louis Post-Dispatch.