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Nine of the 75 stores to be closer arein Florida, including the one in The Avenued mall. A second Jacksonville J. Jill locatiomn at the St. Johns Town Centetr will remain open. In a statement announcing the sale, Talbotws President and CEO Trudy Sullivan saidit “enables us to focusa our time, resources and attentioh exclusively on rejuvenating our core Talbots brand and returbn to profitable growth.” The transaction includes the transfer of certain asset s and liabilities to the buyer, includingv a distribution center in New Hampshire, the sublease of a portionh of the Quincy, Mass.
, headquarters and substantiallt all of the brand’s intellectual property and The remaining 204 stores will continue to operate under the J. Jill The headquarters for the company will remaijnin Quincy. The J. Jill sale is expectec to be completed in the seconed quarter and is subject to postclosinb adjustments. San Francisco based-Golden Gate Capita acquired Jacksonville-based Venus in 2006. The acquisition was Golden Gate’s 11th in two years. Last month Venus announced that all 290 employees were in jeopardty of losing their jobs when the swimwearr and ladies apparel company lostits financing.
With its latestf catalog recentlybeing released, Venus employeesa are still working, at least for now, and companyh executives are looking for a new buyer to acquire the
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