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Liz Claiborne To Sell Flagship Brand To J.C. Penney

In one of a series of transactions to help the firm pay down debt, Liz Claiborne Inc. has agreed to sell its namesake brand to J.C. Penney Co. The re-structure will focus the firm’s efforts on its Kate Spade, Juicy Couture and Lucky Brand businesses, and will result in a corporate name change within the next year.

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