BUSINESS BRIEFING / RETAIL
Times Wire Reports
Talbots Inc. agreed to sell almost all the assets of its J. Jill brand to an affiliate of private equity firm Golden Gate Capital for about $75 million.
J. Jill will still operate from Quincy, Mass., under President Paula Bennett, Talbots said. The buyer will retain a distribution center in New Hampshire and keep open 204 of the existing 279 J. Jill stores. Talbots said it would probably close the remaining shops within 60 days.
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