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Report: G-III loses interest in Jones Group

New York – G-III Apparel Group is reportedly no longer considering a purchase of Jones Group. According to Women’s Wear Daily, G-III, which in October 2013 was said to be close to reaching a deal to buy Jones Group, decided purchasing the apparel retail conglomerate would require taking on too much debt.

There is no word yet on whether this development will have any impact on reported plans by private equity firm Sycamore to purchase Jones Group’s shoe business. None of the companies involved has made any public comment on the situation.

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