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Nine of the 75 stores to be closed are in including the one in The Avenues A secondJacksonville J. Jill location at the St. John s Town Center will remaihn open. In a statement announcing the Talbots President and CEO Trudy Sullivanj saidit “enables us to focus our resources and attention exclusively on rejuvenating our core Talbotws brand and return to profitable growth.” The transaction includes the transfer of certain assets and liabilitiee to the buyer, including a distributionm center in New Hampshire, the sublease of a portion of the Mass., headquarters and substantially all of the brand’zs intellectual property and inventories.
The remaininyg 204 stores will continue to operate underfthe J. Jill brand. The headquarters for the companhy will remainin Quincy. The J. Jill sale is expecte d to be completed in the secondf quarter and is subject to postclosing adjustments. San Franciscol based-Golden Gate Capital acquired Jacksonville-based Venus in 2006. The acquisitiomn was Golden Gate’s 11th in two years. Last montj Venus announced that all 290 employees were in jeopardy of losingv their jobs when the swimwear and ladies apparel compant lostits financing.
With its latestf catalog recentlybeing released, Venusd employees are still working, at least for now, and companyh executives are looking for a new buyer to acquire the
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