Private members club group Soho House has submitted a confidential filing for an IPO in New York, which could see it valued at more than $3bn (£2.1bn), according to Sky News.

It reported that banking sources claimed yesterday (8 April) that the US floatation could reach a valuation of as much as $4bn.

The filing with the US Securities and Exchange Commission (SEC) is the first formal step towards Soho House making a long-awaited public markets debut on the New York Stock Exchange (NYSE).

It was reported by The Times last month that the Richard Caring-backed business was eyeing up a Wall Street float.

Soho House Group pulled out of a $2bn float in 2018 but has now hired JP Morgan and Morgan Stanley for second attempt.

The 27-strong international chain was valued at $2bn after a $100m funding round last summer, though is expected to get a higher valuation in the upcoming IPO due to its being marketed as a highly rated ‘subscription’ business, as well as its position as a property and leisure organisation.

Despite the pandemic forcing the closure of clubs and emptying city centres, only 10,000 of its 110,000 members cancelled their membership, which cost £1,750 in annual fees.

Founded by Nick Jones, Soho House opened its first venue on Greek Street in 1995.