Women’s clothing retailer J. Jill Group Inc. is moving forward with plans for an initial public offering and could debut as soon as the first quarter, according to people familiar with the matter.
J. Jill, owned since last year by private-equity firm TowerBrook Capital Partners LP, has filed IPO paperwork confidentially with the Securities and Exchange Commission, the people said. The company had earlier tapped Bank of America Corp., Morgan Stanley and Jefferies Group LLC as lead underwriters for the IPO, The Wall Street Journal reported in April.
The offering could generate about $150 million and value J. Jill at $750 million to $800 million, the people said.
J. Jill sells women’s clothing, accessories and shoes. Its target customer base of women between the ages of 40 and 65 has been a rare bright spot for clothing retailers, many of which have been battling sales declines amid shifting consumer tastes and the rise of online shopping.
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