Liz Claiborne Sells Mexx Biz to Gores Group

Private equity firm the Gores Group is paying $85 million to buy the international Mexx business from women’s clothing retailer Liz Claiborne Inc., Reuters reported Friday. Liz Claiborne will retain an 18.75 percent interest in the joint venture with Gores Group, Reuters wrote. Liz Claiborne acquired Mexx in May 2001 for roughly $264 million.

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