Houston — Houston-based women’s clothing and accessories retailer Francesca’s, has voluntarily filed for Chapter 11 bankruptcy protection in the District of New Jersey. This filing marks the second time in six years that the retailer has sought bankruptcy protection, with plans to liquidate its inventory and close all of its approximately 400 remaining stores.
Tiger Group, SB360 Capital Partners and GA Group, who are acting as advisors to Francesca’s, have commenced court-approved store closing sales across the company’s entire store fleet as part of the Chapter 11 process. Discounts will range from 25 to 40 percent across all product categories, and stores will continue to receive new merchandise.
Additionally, Francesca’s has filed customary motions seeking authority to support ongoing operations, including continuing employee wages and benefits and honoring post-petition obligations to vendors and partners.