Newsflash! Talbots Sells J.Jill.

June 8, 2009 • Fashion

J. Jill retail location in Boston, Mass.

It has just been reported from WWD that retail mogul Talbots Inc. has signed and confirmed a deal which will sell it's Misses brand J.Jill to an affiliate of the private equity firm Golden Gate Capital for $75 million. The affiliate and new owner of the brand, Jill Acquisitions, will keep J Jill's president Paula Bennett. Current employees of the the Quincy, Mass., and Tilton, N.H., headquarters
and at the transferred store locations will remain employed by the
buyer, as will 204 of the 279 total retail locations. The remaining 75 stores will be retained by Talbots, but closed within the next few months.

Talbots President and chief executive officer, Trudy F. Sullivan, explained the idea to sell the J. Jill brand was a necessary business step for Talbots Inc. at this time. She says, “This is a significant strategic step forward for Talbots as it enables
us to focus our time, resources and attention exclusively on
rejuvenating our core Talbots brand and return to profitable growth.”

Article Source: WWD
Photo Source:

-Alia Rajput

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