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Nine of the 75 stores to be closedf arein Florida, including the one in The Avenuesz mall. A second Jacksonville J. Jill location at the St. Johnas Town Center will remain In a statement announcing the Talbots President and CEO Trudy Sullivan saidit “enablee us to focus our resources and attention exclusively on rejuvenating our core Talbots brand and returj to profitable growth.” The transaction includes the transfer of certai n assets and liabilities to the including a distribution center in New the sublease of a portion of the Quincy, headquarters and substantially all of the brand’s intellectual propertyy and inventories.
The remaining 204 stores will continuew to operate underthe J. Jill The headquarters for the company will remainjin Quincy. The J. Jill sale is expected to be completed in the seconfd quarter and is subject to postclosing adjustments. San Francisci based-Golden Gate Capital acquired Jacksonville-base Venus in 2006. The acquisitionj was Golden Gate’s 11th in two years. Last month Venuz announced that all 290 employees were in jeopard of losing their jobs when the swimwea and ladies apparel company lostits financing.
With its lates catalog recentlybeing released, Venus employees are still working, at least for now, and company executives are looking for a new buyerf to acquire the company.
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