CARPINTERIA, Calif. (AP) — The company behind the Carl's Jr. and Hardee's fast-food chains has decided to postpone its planned initial public offering.

CKE Inc. said Thursday that it has decided not to proceed with the IPO at this time, citing market conditions.

The IPO had been expected to take place this week.

The company was projected to price its shares between $14 and $16 apiece as it looked to raise $200 million.

CKE did not say when it might reschedule the offering. It had planned to list on the New York Stock Exchange under the ticker "CK."

The company, based in Carpinteria, Calif., has more than 3,200 franchised or company-run restaurants in 42 states and 25 foreign countries.