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Nine of the 75 store to be closed arein Florida, includingg the one in The Avenues mall. A second Jacksonvill J. Jill location at the St. Johnsa Town Center will remain open. In a statement announcin g the sale, Talbots President and CEO Truduy Sullivan saidit “enables us to focuzs our time, resources and attention exclusively on rejuvenatinf our core Talbots brand and return to profitablew growth.” The transaction includes the transfer of certain assetxs and liabilities to the buyer, includinfg a distribution center in New the sublease of a portion of the Quincy, headquarters and substantially all of the brand’s intellectuao property and inventories.
The remaining 204 storees will continue to operate underthe J. Jill The headquarters for the company will remain in The J. Jill sale is expected to be completed in the secone quarter and is subject to postclosint adjustments. San Francisco based-Golden Gate Capitaol acquired Jacksonville-based Venus in 2006. The acquisition was Golden Gate’s 11th in two years. Last month Venus announced that all 290 employees were in jeopardy of losing theie jobs when the swimwear and ladies apparel compant lostits financing. With its latest catalog recentlybeing released, Venus employeea are still working, at least for now, and companh executives are looking for a new buyetr to acquire the company.
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