Talbots to sell J. Jill assets; stores to close - The Business Journal of the Greater Triad Area:

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The move is expected to resulr in the closure of about 75of J. Jill’s existingh stores. J.Jill has 10 stores in North Carolina, including one at The Shoppes at Friendlgyin Greensboro. No word yet on whether that storw will be affected fromthis transaction. Hingham, Mass.-basesd Talbots (NYSE: TLB) said the agreement with San Francisco-based Golden Gate Capital is subjectto post-closing adjustments. “Thi s is a significant strategic step forward for Talbots as it enablesa us to focusour time, resourceas and attention exclusively on rejuvenating our core Talbotsz brand and return to profitable said Trudy F. Sullivan, Talbots presidentt and CEO, in a preparedr written statement.
“Paula Bennett and her team have made tremendouse progress in improvingthe J. Jill brand merchandise and its creativ presentation across all channels of We are confident that Goldenm Gate Capital will be an excellent partner tohelp J. Jill achievde its true long-term potential.” Aboug 204 of the existingf 279 J. Jill brand store leases will be assignesd to the buyer and will continueto operate. Abouty 75 remaining J.
Jill brand store lease will be retained by Talbots and are expectecd to be closed by Talbots within the next60