Venus Swimwear on the Selling Block

The founder of Venus Swimwear left the company late last month; the swimsuit cataloger/retailer is now up for sale.

Venus founder and former president Daryle Scott resigned May 29, according to Jack Meeks, a court-appointed receiver for Venus Swimwear since May 19. “We’re running the company and entertaining offers for sales of various assets, including the operations of the company,” Meeks says.

“We’re dealing with potential purchasers right now,” he notes. We’ve had letters of interest.”

Meeks declined to release a copy of Scott’s letter of resignation; Scott could not be reached for comment.

It is unclear what sort of timetable Meeks and the company are working under, and what might happen if no buyer is found. Venus Swimwear has not filed for Chapter 11 bankruptcy.

Last month Venus filed notice with the state of Florida, saying it might have to lay off 240 employees. The filing occurred after Venus, the parent company, had its financing pulled by American Capital Bank.

Meeks says there have been some layoffs, but not that extensive. “The company is still running as it was.”

Venus Swimwear, which has published catalogs since 1984, has manufacturing facilities in Dexter and Jacksonville, FL. The Jacksonville companies are part of Venus Holdings Division, which was bought in 2006 by Golden Gate Capital, a private equity investment firm that yesterday acquired J. Jill from Talbots.

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