By  on December 20, 2011

The battle for the misses’ customer — once a raging front in the retail war — has become more of a sideline skirmish, leaving specialty stores that relied too much on the once-lucrative consumer segment to face dramatic change.

The Talbots Inc., which has closed stores and suffered declining revenues, on Tuesday batted away what it considered to be a low-ball offer to acquire its operations. Instead, the company said it would explore “strategic alternatives” with financial adviser Perella Weinberg Partners — Wall Street speak for hanging out the For Sale sign.

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