** Shares of apparel retailer Vince Holding Corp VNCE.N jump ~117% to $5.11, set for record single-day pct gain
** VNCE said on Wednesday new venture P180 has acquired majority stake in co from Sun Capital Partners
** P180 now owns ~65% of VNCE's outstanding common stock, while Sun Capital affiliates own ~2%, co said
** VNCE said it reduced its debt by about $27 mln, leaving $7.5 mln in subordinated loans
** Added P180 co-founder Brendan Hoffman is expected to become co's new CEO, replacing David Stefko, who is serving as interim CEO
** Brendan Hoffman previously served as VNCE's CEO from 2015 to 2020
** VNCE shares gained ~19% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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