UPDATE 2-Talbots hires adviser on debt refinancing-report

* Talbots hires adviser for debt refinance-report

* Talbots, adviser decline to comment

* Talbots shares close down 4.5 percent (Adds background on debt maturities, byline)

By Emily Chasan

NEW YORK, Nov 10 (Reuters) - Talbots Inc (TLB.N) has hired an adviser to help it refinance $224 million in debt, Bloomberg reported on Tuesday, and shares of the women's clothing retailer closed down more than four percent.

Talbots retained Perella Weinberg Partners LP to provide advice on refinancing the debt, which is at least partially expected to come due next year, Bloomberg reported, citing a source familiar with the matter.

Representatives for Perella Weinberg and Talbots, which is majority-owned by Japan's Aeon Co Ltd (8267.T), declined to comment.

Talbots, which mainly caters to women over 35, has been cutting staff and streamlining operations for the past year as consumers continue to curtail spending. The company posted a narrower-than-expected fiscal second-quarter loss in September and gave a third-quarter outlook that exceeded Wall Street forecasts. [ID:nN09283440]

Many companies with debt maturing over the next couple years have been looking for new and creative ways to refinance, given lingering tightness in the credit markets that has made it difficult to get favorable interest rates on loans.

Talbots got a $200 million term loan from Aeon in February 2009, and has currently extended it until February 2010. The loan matures in February 2012 and is one of several financing arrangements Talbots has with Aeon.

Talbots said in a Sept. 10 regulatory filing that it has "significant debt obligations coming due" in the next nine months and that a revolving loan facility with Aeon expires in April 2010.

Talbots shares closed down 40 cents, or 4.35 percent, at $8.79 on the New York Stock Exchange on Tuesday. (Reporting by Emily Chasan; Editing by Lisa Von Ahn and Tim Dobbyn)