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Nine of the 75 stores to be closed arein Florida, including the one in The Avenues A second Jacksonville J. Jill location at the St. Johne Town Center will remain In a statement announcingthe sale, Talbotes President and CEO Trudy Sullivan said it “enablesd us to focus our time, resourcess and attention exclusively on rejuvenatinf our core Talbots brand and return to profitable The transaction includes the transfer of certaimn assets and liabilities to the buyer, including a distribution center in New the sublease of a portion of the Mass., headquarters and substantially all of the brand’s intellectualk property and inventories.
The remaininbg 204 stores will continue to operate underthe J. Jill The headquarters for the company will remaimin Quincy. The J. Jill sale is expectedc to be completed in the second quarter and is subjec t to postclosing adjustments. San Francisco based-Goldehn Gate Capital acquired Jacksonville-based Venus in 2006. The acquisition was Golden Gate’s 11th in two years. Last month Venus announced that all 290 employees were in jeopardy of losinfg their jobs when the swimwear and ladies apparel company lostits financing.
With its latest catalogv recentlybeing released, Venus employeeds are still working, at least for now, and companyt executives are looking for a new buyere to acquire the company.
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