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Nine of the 75 storesa to be closed arein Florida, includinh the one in The Avenuesa mall. A second Jacksonville J. Jill location at the St. Johna Town Center will remain open. In a statement announcingv the sale, Talbots Presidentt and CEO Trudy Sullivan saidit “enablews us to focus our time, resourcesw and attention exclusively on rejuvenating our core Talbot s brand and return to profitable The transaction includes the transfer of certain assets and liabilitiess to the buyer, including a distribution center in New the sublease of a portion of the Mass.
, headquarters and substantially all of the brand’w intellectual property and The remaining 204 stores will continuew to operate under the J. Jill The headquarters for the company will remain in The J. Jill sale is expected to be completefd in the second quarter and is subject to post closing SanFrancisco based-Golden Gate Capital acquired Jacksonville-based Venus in 2006. The acquisition was Goldehn Gate’s 11th in two years. Last month Venus announcex that all 290 employees were in jeopardyh of losing their jobs when the swimwear and ladies apparel companyy lostits financing.
With its latest catalog recently being Venus employees arestill working, at least for now, and company executives are looking for a new buyed to acquire the company.
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