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Nine of the 75 stores to be closedx arein Florida, including the one in The Avenuesa mall. A second Jacksonville J. Jill locationm at the St. Johns Town Centert will remain open. In a statement announcinh the sale, Talbots President and CEO Trudy Sulliva n saidit “enables us to focue our time, resources and attentiohn exclusively on rejuvenating our core Talbots bran and return to profitable growth.” The transactionb includes the transfer of certain assetxs and liabilities to the including a distribution center in New the sublease of a portion of the Mass., headquarters and substantially all of the brand’s intellectuap property and inventories.
The remaining 204 stores will continuew to operate underthe J. Jill The headquarters for the company will remain in The J. Jill sale is expectee to be completed in the second quarter and is subject to postclosingb adjustments. San Francisco based-Golden Gate Capita l acquired Jacksonville-based Venus in 2006. The acquisitionj was Golden Gate’s 11th in two years. Last month Venuds announced that all 290 employeed were in jeopardy of losing their jobs when the swimweard and ladies apparel company lostits financing. With its latesgt catalog recently being Venus employees arestill working, at leas for now, and company executives are lookinb for a new buyer to acquire the company.
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