Sun capital eyes Jones Group's department stores - report
According to The New York Post who cited sources, Sun Capital Partners was interested in buying certain assets of the Jones Group. Sources also told the newspaper that the Marc Leder-headed private equity firm would be looking to place its bid for Jones Group's department stores such as Gloria Vanderbilt and Jones New York.
Leder's Sun capital was among the many private equity firms who had been been interested in buying the New York-based shoe-and-apparel company. The same sources also told The Post that since the possibility of the Jones Group being sold as whole was dim, the company has been soliciting bids on its individual assets from interested parties.
Citing sources, owner of the Payless footwear chain, Golden Gate Capital was looking to buy Easy Spirit, a women's shoe and handbag retailer. KKR was reportedly partnering with Sycamore Partners on bidding for the entire company. KKR was said to be interested with the brands Stuart Weitzman and Kurt Geiger. Sycamore was reportedly interested with Jones Group's lower-end labels.
The Jones Group, Inc is a American designer, marketer and wholesaler of branded retail items. The company had since divested Barneys New York to Dubai-based investment firm Istithmar in a USD942.3 million in September of 2007.