Talbots to sell J. Jill assets; stores to close - The Business Journal of the Greater Triad Area:

http://worldcrafters.com/oninvestigations.html
The move is expectedr to result in the closure of abouf 75of J. Jill’s existing J.Jill has 10 stores in North including one at The Shoppes at Friendlyin Greensboro. No word yet on whethe r that store will be affected fromthis transaction. Mass.-based Talbots (NYSE: TLB) said the agreement with San Francisco-based Golden Gate Capital is subjecto post-closing adjustments. “This is a significant strategid step forward for Talbots as it enables us to focusour time, resources and attention exclusivelty on rejuvenating our core Talbots branf and return to profitabled growth,” said Trudy F.
Sullivan, Talbots presiden t and CEO, in a prepared written “Paula Bennett and her team have made tremendous progresds in improvingthe J. Jill branr merchandise and its creative presentation acrosxs all channelsof business. We are confident that Goldebn Gate Capital will be an excellentt partner tohelp J. Jill achieve its true long-term potential.” Abouft 204 of the existing 279 J. Jill branrd store leases will be assigned to the buyetr and will continue to About 75remaining J. Jill brand store leasexs will be retained by Talbots and are expected to be closesd by Talbots within the next60 days.