Jones NY closing all stores

Jones New York is closing all of its stores, discontinuing its wholesale business and will look at strategic alternatives for its brand, the company said.

The women's clothing company said it is making the move after a review of its recent performance and outlook.

"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, CEO 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. 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 was acquired by private equity firm Sycamore Partners last year as part of a $1.2 billion deal, or $2.2 billion including debt. None of the other business units acquired as part of The Jones Group Inc. transaction are affected.