Women's clothing retailer J.Jill taps banks for IPO: source

[NEW YORK] Women's apparel and footwear retailer J.Jill Group has tapped Bank of America, Morgan Stanley and Jefferies Group LLC as underwriters for a possible initial public offering, a source familiar with the matter said.

Private equity firm TowerBrook Capital Partners LP, which bought the retailer last year, could raise about US$150 million in an offering that could value J.Jill at around US$750 million to US$800 million, the source said.

TowerBrook bought J.Jill from private equity firm Golden Gate Capital and global investment firm Arcapita last March.

TowerBrook declined to comment.

The Wall Street Journal first reported the news on Friday.

REUTERS