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Nine of the 75 stores to be closes arein Florida, includinf the one in The Avenue mall. A second Jacksonville J. Jill locatiob at the St. Johns Town Center will remaibn open. In a statement announcing the sale, Talbots Presidentf and CEO Trudy Sullivan saidit “enables us to focus our time, resources and attention exclusivelyu on rejuvenating our core Talbots brand and return to profitabls growth.” The transaction includes the transfer of certain assets and liabilities to the buyer, including a distribution centef in New Hampshire, the subleases of a portion of the Quincy, headquarters and substantially all of the brand’s intellectuakl property and inventories.
The remaining 204 stores will continud to operate underthe J. Jill brand. The headquarters for the companu will remainin Quincy. The J. Jill sale is expectedd to be completed in the second quarter and is subject to postclosing adjustments. San Francisco based-Golde n Gate Capital acquired Jacksonville-based Venus in 2006. The acquisitio was Golden Gate’s 11th in two Last month Venus announced that all 290 employees were in jeopardyt of losing their jobs when the swimwea r and ladies apparel company lost its With its latest catalog recentlhybeing released, Venus employees are still at least for now, and company executive s are looking for a new buyer to acquire the
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