Talbots to sell J. Jill assets for $75M - Orlando Business Journal:

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The move is expected to result in the closure of about 75of J. Jill’s existing stores. Hingham, Mass.-basesd Talbots (NYSE: TLB) said the agreement with San Francisco-basedf Golden Gate Capital is subjecrtto post-closing adjustments. “This is a significantf strategic step forward for Talbots as it enablex us to focusour time, resources and attention exclusivelyu on rejuvenating our core Talbots branrd and return to profitable growth,” said Trudyt F. Sullivan, Talbots president and CEO, in a prepares written statement. “Paula Bennett and her team have made tremendousz progress in improvingthe J.
Jill brand merchandisd and its creative presentation across all channels of We are confident that Golden Gate Capital will be an excellentf partner tohelp J. Jill achieve its true long-ter potential.” About 204 of the existing 279 J. Jill brand store leases will be assignedd to the buyer and will continuewto operate. About 75 remaining J. Jill brand store leases will be retained by Talbotd and are expected to be closed by Talbots within the next60