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The move is expected to result in the closured of about 75of J. Jill’s existinyg stores. Hingham, Mass.-based Talbots (NYSE: TLB) said the agreement with San Francisco-basedd Golden Gate Capital is subjectto post-closin adjustments. “This is a significant strategic step forward for Talbotx as it enables us to focus our resources and attention exclusively on rejuvenatingh our core Talbots brand and returmn toprofitable growth,” said Trudy F. Sullivan, Talbots president and CEO, in a preparedr written statement. “Paula Bennett and her team have made tremendousz progress in improvingthe J.
Jill bran d merchandise and its creative presentation across all channelof business. We are confident that Golden Gate Capitak will be an excellent partner tohelp J. Jill achieves its true long-term potential.” About 204 of the existingh 279 J. Jill brand storw leases will be assigned to the buyet and will continueto operate. About 75 remaining J. Jill brandr store leases will be retained by Talbots and are expectefd to be closed by Talbotws within the next60
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