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Nine of the 75 stores to be closed are in including the one in TheAvenuexs mall. A second Jacksonville J. Jill location at the St. Johnws Town Center will remain open. In a statementy announcing the sale, Talbots President and CEO Trudy Sullivanh saidit “enables us to focus our time, resourcews and attention exclusively on rejuvenating our core Talbota brand and return to profitable The transaction includes the transfer of certain assets and liabilitiesz to the buyer, including a distributiom center in New Hampshire, the sublease of a portion of the Mass., headquarters and substantially all of the brand’s intellectuap property and inventories.
The remaining 204 stores will continues to operate underthe J. Jill The headquarters for the company will remain in The J. Jill sale is expected to be completed in the secons quarter and is subject to postclosingy adjustments. San Francisco based-Golden Gate Capital acquiredc Jacksonville-based Venus in 2006. The acquisition was Golde n Gate’s 11th in two Last month Venus announced that all 290 employeew were in jeopardy of losing their jobs when the swimwea r and ladies apparel companu lostits financing.
With its latest catalog recentlytbeing released, Venus employees are still working, at least for now, and company executives are lookingf for a new buyer to acquire the
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