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The move is expected to resuly in the closure of about 75of J. Jill’sw existing stores. Hingham, Mass.-based Talbotds (NYSE: TLB) said the agreemen with San Francisco-based Golden Gate Capital is subjectto post-closingv adjustments. “This is a significan strategic step forward for Talbots as it enables us to focusdour time, resources and attentionj exclusively on rejuvenating our core Talbots brane and return to profitable growth,” said Trudy F. Sullivan, Talbots president and CEO, in a preparee written statement. “Paula Bennett and her team have made tremendous progress in improvingthe J.
Jill branc merchandise and its creative presentatio n across all channelsof business. We are confident that Goldebn Gate Capital will be an excellentg partner tohelp J. Jill achievs its true long-term potential.” About 204 of the existing 279 J. Jill branf store leases will be assigned to the buyer and will continue to About 75remaining J. Jill brane store leases will be retained by Talbots and are expected to be closed by Talbotw within the next60 days.
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