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Women’s specialty retailer Francesca’s filed for Chapter 11 bankruptcy protection and launched going-out-of-business sales across all of its stores.
The company, founded in Houston in 1999, announced Friday that it voluntarily filed for protection in the U.S. Bankruptcy Court for the District of New Jersey. The retailer said the move is intended to facilitate a court-supervised process designed to maximize value for stakeholders.
Francesca’s currently has 457 locations across 45 states.
The company previously filed for bankruptcy in Decemember 2020. (Emile Wamsteker/Bloomberg via Getty Images)
Advisors Tiger Group, SB360 Capital Partners and GA Group have launched court-approved store closing sales across the company’s entire fleet.
“Shoppers will find discounts of 25 to 40 percent off across all product categories, and new merchandise will continue to arrive at stores,” Michael McGrail, member at Tiger Group, said in a statement. “It’s an opportunity to add to or accessorize your wardrobe, find unique gifts, or just go on a treasure hunt for extraordinary deals.”
Discounted merchandise includes sweaters and cardigans, blouses and skirts, loungewear and intimates, denim jackets, party and wedding guest dresses, rompers and jumpsuits, as well as jewelry, gifts and accessories.
Inside a Francesca’s store in Southlake, Texas. (Peter Larsen/WireImage)
Francesca’s previously filed for Chapter 11 bankruptcy protection in December 2020, and was later acquired out of bankruptcy by TerraMar Capital and Tiger Group for $18 million.
In the years after exiting bankruptcy, Francesca’s attempted revival efforts, including launching a tween-oriented line called Franki by Francesca’s and acquiring Miley Cyrus and Suki Waterhouse’s lifestyle brand Richer Poorer. The chain also opened a new store at the American Dream mall in East Rutherford, New Jersey, in April 2024.
Francesca’s was founded in Houston in 1999. (Josh Brasted/Getty Images)
A spokesperson for Francesca’s did not immediately respond to FOX Business’ request for comment.
FOX Business’ Kristen Altus contributed to this report.
