Talbots completes sale of J. Jill
(File photo: Wiqan Ang for The Boston Globe)
Talbots Inc., the Hingham apparel retailer perhaps best known for classically styled women's clothing, said that it has completed the sale of its J. Jill brand to an affiliate of a San Francisco based private-equity firm.
Talbot announced in June that it would sell the women's casual clothing business to focus on rejuvenating its core business. To read a Globe story about that announcement, please click here.
An affiliate of Golden Gate Capital paid $75 million cash, less an $8.1 million adjustment based on the estimated closing date, as part of the agreement. Talbots had bought the brand in 2006 for $517 million.
The sale included 205 J. Jill brand stores, a New Hampshire distribution facility, intellectual property, accounts receivable, and inventory related to the transferred stores, along with certain related liabilities.
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