The unbeaten hurdler had been due to tackle either the Contenders Hurdle at Sandown or the Welsh Champion Hurdle at Ffos Las, but trainer Donald McCain described the unbeaten horse as "highly unlikely" to run in either: "We will have to let him tell us what the next move is," he said.
In all probability, the plans for the horse are unlikely to be disrupted too much by the news, although McCain will obviously still be hoping to get a run into the horse before the Festival, the trainer having made it clear before that he is not the sort of horse who wants to be too fresh before a big race.
Peddlers Cross beat the 2010 Champion Hurdle winner Binocular into third place when winning the rearranged Fighting Fifth Hurdle at Newbury in November and is currently best-price 13/2 (Stan James and Paddy Power) for the 2011 Champion Hurdle.
Stablemate Overturn, who, like Peddlers Cross, is owned by Tim Leslie, was also entered for the Welsh Champion Hurdle, but he may not run either.
"I have always been leaning to either the Kingwell [at Wincanton] or the Morebattle [at Kelso] next week and that probably remains the case," McCain added.
Overturn is currently best-price 33/1 (Stan James) for the 2011 Champion Hurdle.
Meanwhile, Barry Geraghty hopes Finian's Rainbow has one more run over fences before the Cheltenham Festival.
Nicky Henderson's charge is two from two over fences and is disputing favouritism for the Irish Independent Arkle Trophy next month, available at best-price 9/2 (888sport).
"We thought he was very good over hurdles and were hoping he'd make the transition to fences the way he has, he's done everything right so far," the jockey said.
"The first day he won at Newbury was probably a better race than the second day. The second horse came out and franked the form by beating Medermit at Cheltenham and that reads well.
"In an ideal world you'd give him another run to get some more experience but he's a lovely horse and I'd be looking forward to him. He has the option of going to Warwick or Kempton for the Pendil so there are races for him and all being well he'll go for one of them."
The jockey also high hopes for Saturday winner Bobs Worth:
"He was a little novicey at a couple down the back on Saturday but at the business end he really came alive and seemed to pick up well after the last. He won well and is a horse who is improving all the time," Geraghty added.
The Nicky Henderson-trained six-year-old was promoted to best-price 5/1 (Bet365) favourite for the Neptune Investment Management Novices' Hurdle at the Festival following the Grade Two triumph at Cheltenham, but it is worth reflecting on his trainer's very poor record in the race (0-21).
It is not just the fact that the Henderson yard are 0-21 in the Neptune that should set alarm bells ringing but that Finian's Rainbow's fifth placing last season was just the second time since 1990 that any of their runners had even finished in the first ten.
Only Travado had previously mustered a top-ten finish in the previous 20 runnings and the subsequent Arkle Trophy winner could only manage seventh himself. In addition to Bobs Worth, the Grade One Tolworth Hurdle winner, Minella Class, and the expensive and exciting former point-to-point winner, Chablais, who won a warm novice hurdle at Kempton on King George VI Chase Day, are also well to the fore in this particular market for the Henderson team.
Peddlers Cross is best-price 13/2 for the Champion Hurdle
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