By  on December 8, 2009

One leader of the misses’ retail market has a new majority owner and a lot less debt.

Shares of The Talbots Inc. rose more than 14 percent Tuesday after the specialty retailer reached a deal to end its 21-year relationship with its majority owner, the U.S. subsidiary of Japanese retail giant Aeon, retiring the $491 million debt it owes Aeon through a merger with special purpose acquisition company BPW Acquisition Corp., and agreeing to a new $200 million credit facility from GE Capital.

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