Houston — Francesca’s, the Houston-based apparel and accessories chain for women, has filed for Chapter 11 bankruptcy and will close an additional 97 stores across the country, according to documents filed in the U.S. Bankruptcy Court for the District of Delaware. Francesca’s had previously announced in mid-November that it would be closing 140 stores, or roughly 20 percent of its total count, and possibly pursuing a Chapter 11 bankruptcy declaration. According to CNBC, Francesca’s has received a buyout offer from Los Angeles-based TerraMar Capital and hopes to close a sale by late January.
Texas
At Home Reports 47.5 Percent Increase in Third-Quarter Sales, Up 21.5 Percent Year-to-Date
by Alex Tostado
Plano, Texas — At Home Group Inc. reported a 47.5 percent increase in net sales for its third fiscal quarter that ended Oct. 24 relative to its fiscal third quarter in 2019. At Home has now achieved 21.5 percent growth in net sales on a year-to-date basis. The Plano-based home improvement retailer also reported $47.1 million in net income for its third quarter, a substantial increase from the $14.6 million net loss posted in the third quarter of 2019. The company currently operates 219 stores in 40 states. In a …
Henry S. Miller Arranges Sale of 24,833-Square-Foot Retail Building in Fort Worth, Texas
by Alex Tostado
Fort Worth, Texas — Henry S. Miller Brokerage has arranged the sale of a 24,833-square-foot retail building located at 2551 Ephriham Ave. in northwest Fort Worth. Shawn Ackerman of Henry S. Miller represented the seller, Fallas Borrower IV LLC, in the transaction. Troy Morgan of Structure Commercial represented the buyer, Savcorp Ltd., doing business as Savers Cost Plus Supermarket.
The Colony, Texas — Electric Gamebox, a British entertainment concept centered on interactive gaming, will open a 4,000-square-foot venue at Grandscape, the 433-acre mixed-use destination in the northern Dallas suburb of The Colony. The venue, which is expected to open this month, will be Electric Gamebox’s first in the United States. Nebraska Furniture Mart is leading the development of the retail components of Grandscape.
Plano, Texas — Mooyah Burgers, Fries & Shakes, a Plano-based fast-casual concept, will open 10 new restaurants throughout the metroplex, an expansion that is expected to create about 250 new jobs. All 10 of these locations will feature the brand’s new prototype with new dining zones, digital menus, a grab-and-go bottled beverage fridge and to-go shelving. Mooyah currently operates about 75 restaurants across 23 states.
New Braunfels, Texas — Locally based grocer H-E-B will open a new, 122,222-square-foot store at 651 S. Walnut Ave. in the San Antonio suburb of New Braunfels. An existing 99,000-square-foot H-E-B store opened in that market in 1994. The project, construction of which is slated to begin early next year, has a price tag of $17.5 million. The opening is slated for the fourth quarter of 2021.
The Colony, Texas — Located in the rapidly growing suburbs of Northern Dallas, Grandscape is currently one of the largest mixed-use development projects in the U.S., occupying more than 400 acres in The Colony, Texas. At full build-out, Grandscape will boast over 3 million square feet of retail, entertainment, dining, residential, office and attractions. Phase one of the lifestyle center is open and includes such attractions as the country’s largest home furnishings store, Nebraska Furniture Mart; entertainment anchors, Andretti Indoor Karting & Games and Galaxy Theatres; and the all-sports store, …
Stan Johnson Arranges Sale of Two Retail Strip Centers Totaling 26,560-Square-Foot in Rio Grande Valley
by Alex Tostado
Donna and Mission, Texas — Stan Johnson Co. has arranged the sale of two retail strip centers totaling 26,560 square feet in the Rio Grande Valley. Ruby Plaza is a 15,000-square-foot property in Donna, and Palmhurst Plaza is an 11,560-square-foot property in Mission. Evan Altemus of Stan Johnson represented the buyers, private investors, in both transactions.
Apparel, Accessories Retailer Francesca’s to Close 140 Stores, May Pursue Bankruptcy
by Alex Tostado
Houston — Francesca’s Holdings Corp. will close 140 stores throughout the country by Jan. 30, 2021, the Houston-based women’s apparel and accessories retailer announced on Monday. According to The Wall Street Journal, the 140 shuttered stores represent about 20 percent of the company’s total store count. Francesca’s also said that if the company is unable to raise sufficient capital to continue funding operations and paying obligations, it will likely seek to restructure its debt load by filing for Chapter 11 bankruptcy. Francesca’s stock price opened at $3.53 per share Tuesday, Nov. …
Local Developer Completes 109,000-Square-Foot K Towne Plaza Shopping Center in Metro Dallas
by Alex Tostado
Carrollton, Texas — A locally based Korean family developer has completed K Towne Plaza Shopping Center, a 109,000-square-foot retail property located at 4060 State Highway in the northern Dallas suburb of Carrollton. Korean grocer Galleria Mart anchors the property, which features an additional 65 retail spaces. A grand opening will be held Saturday, Oct. 24 and will include kiosks offering Korean food and wares. Gaines Real Estate Co. manages the property. The developer requested anonymity.