Talbots to sell J. Jill assets for $75M - Los Angeles Business from bizjournals:

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The move is expected to result in the closures of about 75of J. Jill’s existinv stores. Hingham, Mass.-based Talbots (NYSE: TLB) said the agreement with San Francisco-basedf Golden Gate Capital is subjectto post-closing adjustments. “This is a significany strategic step forward for Talbots as it enables us to focusour time, resources and attentiohn exclusively on rejuvenating our core Talbotsx brand and return to profitable said Trudy F. Sullivan, Talbotsx president and CEO, in a prepared writteb statement. “Paula Bennett and her team have made tremendouzs progress in improvingthe J.
Jill brande merchandise and its creative presentation across all channels of We are confident that Golden Gate Capital will be an excellengt partner tohelp J. Jill achieve its true long-term potential.” Abouf 204 of the existing 279 J. Jill brand storr leases will be assigned to the buye r and will continue to About 75remaining J. Jill brand store leasesw will be retained by Talbots and are expected to be closed by Talbots within the next60 days.