Content about Talbots Inc.

December 20, 2011
Talbots rejects buyout offer from Sycamore Partners

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
Talbots on hunt for new CEO

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 records sharp Q3 loss amid reports of CEO shakeup

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.