Des Peres-based Wehrenberg Theatres — said to be the oldest and largest family-owned theater chain in America — is no longer shopping for a potential buyer.

Executives told employees in November that the company was exploring a possible sale of its theater operations but recently stopped that search.

“Under current market conditions, qualified buyers are unable to make offers that reflect the full value of our employees, first-class facilities and leading market position,” Chief Executive Ronald P. Krueger Sr. said Wednesday in a statement. “I concluded the best action for our company is to be proactive to determine our own future.”

The company, founded in 1906, employs about 800 people and operates 16 theater complexes. Most of them are in the St. Louis area.