Content about Talbots Inc.

December 20, 2011

Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company.

NEW YORK — Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.

December 5, 2011

It’s official: Talbots Inc. is seeking a new CEO as it works to turn around its struggling business.

HINGHAM, Mass. — It’s official: Talbots Inc. is seeking a new CEO as it works to turn around its struggling business. The retailer said Monday that president and CEO Trudy Sullivan plans to retire as soon as a successor is named.

The company said it has created a search committee of independent board members and hired executive search firm Spencer Stuart to assist in its search.

December 1, 2011

Talbots Inc. reported Thursday a loss of $22 million for the third quarter, compared with a profit of $17 million in the year-ago period.

HINGHAM, Mass. — Talbots Inc. reported Thursday a loss of $22 million for the third quarter, compared with a profit of $17 million in the year-ago period. It was the apparel retailer’s third loss in four quarters. Talbots has posted an annual loss in three of the last four years.