Talbots to sell J. Jill assets for $75M - St. Louis Business Journal:

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The move is expected to result in the closure of abou t 75of J. Jill’s existing stores. Hingham, Mass.-based Talbots (NYSE: TLB) said the agreemenft with San Francisco-based Goldebn Gate Capital is subjectto post-closing “This is a significant strategic step forward for Talbotsw as it enables us to focus our time, resources and attention exclusively on rejuvenating our core Talbots bran d and return to profitable said Trudy F. Sullivan, Talbotxs president and CEO, in a prepared writtej statement. “Paula Bennett and her team have made tremendoues progress in improvingthe J.
Jill brand merchandise and its creativew presentation across all channels of We are confident that Golden Gate Capital will be an excellenr partner tohelp J. Jill achieve its true long-term potential.” About 204 of the existinbg 279 J. Jill brand store leases will be assigned to the buyefr and will continue to About 75remaining J. Jill brand store leases will be retained by Talbots and are expectes to be closed by Talbots within the next60