NEW YORK, Jan. 29, 2015 /PRNewswire/ -- Jones New York, a multichannel retailer of women's sportswear, today announced that it will pursue strategic alternatives for the Jones New York brand. In conjunction with this action, Jones New York will discontinue its wholesale business and close its retail locations over the course of 2015.
"Following a thorough strategic review of Jones New York's recent performance and outlook, we have decided to discontinue the Jones New York wholesale business and close all 127 Jones New York outlet stores," said Andrew Hede, Interim Chief Executive Officer of Jones New York. "We recognize that the Jones New York brand is important to many loyal customers, and we are pursuing strategic alternatives for the brand."
He continued, "We are grateful for all of the hard work and dedication of our associates and appreciate their efforts to support the brand. We will work with our wholesale customers and vendors to ensure an orderly transition over the course of this year."
Jones New York is a portfolio company of Sycamore Partners, a private equity firm based in New York. None of the other business units that were acquired as part of The Jones Group Inc. transaction are affected by the actions announced today by Jones New York.
SOURCE Jones New York