Talbots to sell J. Jill assets for $75M - Tampa Bay Business Journal:

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The move is expected to resulr in the closure of about 75of J. Jill There are four J. Jill stores in the Tampaa Bay area. Two in the Tampa Bay area willclosw — the J. Jill in Tyrone Square in St. Petersburg and the J. Jill in Lakesides Village in Lakeland. Mass.-based Talbots (NYSE: TLB) said the deal with San Francisco-based Golden Gate Capital is subjectto post-closinbg adjustments. “This is a significant strategic step forwarr for Talbots as it enabless us to focusour time, resources and attentionn exclusively on rejuvenating our core Talbots brand and returbn to profitable growth,” said Trudy F. Sullivan, Talbotz president and CEO. About 204 of the existinhg 279 J.
Jill brand store leases will be assigned to the buyerd and will continueto operate. Abougt 75 remaining J. Jill brand store leases will be retainedx by Talbots and are expected to be closedd by Talbots within the next60 days.