A bid of £450,000 plus add ons had been accepted by Kilmarnock- but the striker who has already fired in 16 goals this season returned to Scotland after mulling over the move on Monday evening.
"I'm obviously very disappointed," Baraclough told the official website.
"We put a fantastic offer to the lad and we went as far as we could go with the fee with Kilmarnock.
"The boy spoke to me this morning and apologised. He liked everything about the club but didn't feel it was the right time for him to be moving on.
Baraclough also admitted his desire to bring Morecambe winger Mark Duffy to Glanford Park. Duffy, 25, has been linked with a possible move in Tuesday's national press.
"If we can get him then he will be a good acquisition for sure."
