Monday, June 8, 2009

J Jill Being Sold and Closing Some Stores

Talbots is selling their interest in the J. Jill stores around the U.S. to Golden Gate Capital. The sale price is expected to be about 15% of what Talbots paid for the stores in 2006. There are 279 stores total in the U.S. and Golden Gate Capital is buying 204 of them. The remaining 75 stores will be closed.

It is unclear whether the J. Jill store (targeting women 35 and over) at La Cumbre Plaza will remain open or close. The typical size for a store is approximately 3,800 SF. Golden Gate Capital is also known for their purchase of the Express chain of stores from The Limited in 2007.

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