Alliance Data Systems (ADS) has agreed to buy credit card accounts from Talbots and to take over the retailer's private-label credit card program.
Alliance would purchase roughly $145 million in receivables from the seller of women's apparel, shoes and accessories for undisclosed terms, the companies said Monday. The portfolio has a modest level of delinquencies.
As part of the deal, Alliance also would manage Talbots' credit card and rewards program.
Talbots, based in Hingham, Mass., has 580 stores in 47 states, the District of Columbia and Canada. In May the company agreed to be purchased by private-equity firm Sycamore Partners for roughly $193 million in cash.
Shares of Alliance rose more than 1% in Monday afternoon trading, to $142.53.
