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baroque sunglasses prada Claiborne died. And then Isaac Mizrahi was hired in 2008 as creative director. Both hires created buzz, but that didn't translate into sales."Over the past few years, we have worked diligently to turn this into a more efficient, dynamic, brand centric, retail based company," CEO William McComb said. "Today marks the culmination of these efforts."McComb said during a conference call Wednesday that along with streamlining its operations, Liz Claiborne will need to "resize its corporate infrastructure," which could mean job cuts. McComb said that he was not prepared to announce the goals of the new resizing efforts just yet. But in July, the company announced plans to close an Ohio distribution center that had about 600 workers. Penney Co. for about $288 million. The Liz Claiborne brands include Liz Claiborne, Claiborne, Liz, Liz Co., Concepts by Claiborne, LC, Elizabeth, LizGolf, LizSport, Liz Claiborne New York LCNY and Lizwear brands.It is also selling the Kensie brands which includes Kensie, Kensiegirl and Mac Jac to Bluestar Alliance and completed the sale of its Dana Buchman brand to Kohl's Corp. on Monday, with both transactions bringing in proceeds of about $40 million.Liz Claiborne expects to generate about $328 million from its sales of the Liz Claiborne and other brands. It anticipates using its proceeds to lower debt further.Liz Claiborne anticipates closing on the sale of its Liz Claiborne, Monet and Kensie brands in the fourth quarter. McComb said that the company expects 2011 net debt of $270 million to $290 million after closing on its transactions. The company had just over $548 million in long term debt at the end of its fiscal second quarter.The transactions are just the latest maneuvers Liz Claiborne has made to dig itself out from under its debt. In August the company announced that it sold trademarks for the Curve fragrance and some smaller brands to Elizabeth Arden for $58.4 million in cash. And last month Liz Claiborne said it was selling its Mexx business to a joint venture led by the private equity firm The Gores Group. The company said the deal would give it $85 million and an 18.75 percent equity stake in the joint venture.Liz Claiborne