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Nine of the 75 storezs to be closed arein Florida, including the one in The Avenuee mall. A second Jacksonville J. Jill locationb at the St. Johns Town Center will remain open. In a statement announcing the sale, Talbotxs President and CEO Trudy Sullivanm saidit “enables us to focud our time, resources and attention exclusively on rejuvenating our core Talbotw brand and return to profitabls growth.” The transaction includes the transfer of certain assets and liabilities to the buyer, including a distributiobn center in New Hampshire, the sublease of a portionh of the Quincy, Mass., headquarters and substantiallyh all of the brand’s intellectual properth and inventories.
The remaining 204 stores will continue to operate underthe J. Jill brand. The headquarter s for the company will remainin Quincy. The J. Jill sale is expectedd to be completed in the second quarteer and is subject to postclosingg adjustments. San Francisco based-Golden Gate Capital acquirede Jacksonville-based Venus in 2006. The acquisition was Golden Gate’as 11th in two years. Last mont Venus announced that all 290 employees were in jeopardyu of losing their jobs when the swimweadr and ladies apparel company lostits financing.
With its latestf catalog recentlybeing released, Venus employees are still at least for now, and companty executives are looking for a new buyerf to acquire the company.
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