Talbots Sells J. Jill for the Bargain-basement Price of $75 Million

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Talbots is selling its J. Jill brand to private-equity firm Golden Gate Capital in an attempt to stop losing so much damn money. The $75 million price tag doesn't make much of a dent in the $366.5 million Talbots lost in the fourth quarter, but at least if J. Jill continues to not sell clothes, it won't take Talbots down with it. The company bought J. Jill in 2006 for $517 million. Within 60 days, Talbots will close 75 J. Jill stores. [Reuters]