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The move is expected to resultr in the closure of about 75of J. Jill’sz existing stores. Hingham, Mass.-based Talbots TLB) said the agreement with San Francisco-based Goldenj Gate Capital is subjectto post-closing adjustments. “Thids is a significant strategic step forward for Talbotw as it enables us to focus our resources and attention exclusively on rejuvenating our core Talbotss brand and return toprofitabls growth,” said Trudy F. Sullivan, Talbots presidentg and CEO, in a prepared written statement. “Paula Bennett and her team have made tremendous progress in improvinhthe J.
Jill branr merchandise and its creativwe presentation across all channels of We are confident that Golden Gate Capital will be an excellentf partner tohelp J. Jill achieve its true long-ter m potential.” About 204 of the existing 279 J. Jill branc store leases will be assigned to the buyer and will continuwto operate. About 75 remaininh J. Jill brand store leasez will be retained by Talbots and are expectedx to be closed by Talbots within the next60 days.
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