Francesca’s Files for Chapter 11, Launches Nationwide Closing Sales

Women’s specialty retailer Francesca’s has filed for Chapter 11 bankruptcy protection and has begun court-approved store closing sales nationwide.

Reports of the brand’s impending closure had already surfaced last month, with customers posting images of liquidation signage and discounted inventory across multiple locations.

Tiger Group, SB360 Capital Partners, and GA Group have been appointed as advisors.

“Shoppers will find discounts of 25 to 40 per cent off across all product categories, and new merchandise will continue to arrive at stores,” said Michael McGrail of Tiger Group.

“It’s an opportunity to add to or accessorize your wardrobe, find unique gifts, or explore a wide range of discounted merchandise.”

The brand’s merchandise for sale includes sweaters and cardigans, blouses, skirts, loungewear and intimates, denim jackets and skirts, black dresses, party and floral dresses, wedding guest dresses, rompers and jumpsuits, as well as rings, earrings, necklaces, and bracelets.

Francesca’s said it has filed customary first-day motions seeking court approval to continue operating during the bankruptcy process. These include requests to maintain employee wages and benefits and to honor post-petition obligations to vendors and partners.

“This process provides a structured path to pursue the best outcome for all stakeholders,” said Curt Kroll, CFO,  Francesca’s.

“We remain focused on operating responsibly and supporting our teams, partners, and guests throughout this process.”