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Nine of the 75 stores to be closed are in including the one in TheAvenuews mall. A second Jacksonville J. Jill locationj at the St. Johns Town Cente will remain open. In a statement announcingv the sale, Talbots President and CEO Trudy Sullivabn saidit “enables us to focu s our time, resources and attention exclusively on rejuvenating our core Talbotas brand and return to profitablw growth.” The transaction includes the transfer of certainj assets and liabilities to the buyer, including a distributioh center in New Hampshire, the sublease of a portio n of the Quincy, Mass., headquarters and substantially all of the brand’s intellectual property and inventories.
The remaining 204 storeds will continue to operate underthe J. Jill The headquarters for the company will remaibin Quincy. The J. Jill sale is expected to be completex in the second quarter and is subjecy to postclosing adjustments. San Francisc based-Golden Gate Capital acquirecd Jacksonville-based Venus in 2006. The acquisition was Golden Gate’s 11th in two years. Last month Venus announcesd that all 290 employees were in jeopard y of losing their jobs when the swimwear and ladiesx apparel company lost its With its latest catalog recentlgbeing released, Venus employees are still working, at least for now, and companyy executives are looking for a new buyer to acquirwe the company.
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