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Nine of the 75 storesw to be closed are in including the one in The Avenues A secondJacksonville J. Jill location at the St. Johnws Town Center will remain open. In a statementt announcing the sale, Talbots President and CEO Trudy Sulliva n saidit “enables us to focus our time, resources and attention exclusivelyu on rejuvenating our core Talbotd brand and return to profitable The transaction includes the transfert of certain assets and liabilities to the buyer, includinh a distribution center in New Hampshire, the sublease of a portionb of the Quincy, Mass., headquarters and substantiallhy all of the brand’se intellectual property and inventories.
The remaininvg 204 stores will continue to operatee underthe J. Jill brand. The headquarters for the companyt will remainin Quincy. The J. Jill sale is expectex to be completed in the secon quarter and is subject to postclosintg adjustments. San Francisco based-Golden Gate Capita acquired Jacksonville-based Venus in 2006. The acquisitiohn was Golden Gate’s 11th in two Last month Venus announcedd that all 290 employees were in jeopardy of losing theitr jobs when the swimwear and ladies apparelo company lostits financing.
With its latesrt catalog recentlybeing released, Venus employee s are still working, at least for now, and companyt executives are looking for a new buyere to acquire the company.
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