Francesca declares bankruptcy, to close all stores nationwide

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Of woman specialty retailer Francesca’s filed for Chapter 11 bankruptcy protection and launched going-out-of-business sales at all of its stores.

The company, founded in Houston in 1999, announced Friday that it filed for voluntary protection in the United States 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 in 45 states.

The company previously filed for bankruptcy in December 2020. (Emile Wamsteker/Bloomberg via Getty Images)

Advisors Tiger Group, SB360 Capital Partners and GA Group have launched court-approved closing store sales across the company’s fleet.

“Shoppers will find discounts of 25 to 40 percent off across all product categories, and new merchandise will continue to hit stores,” Tiger Group member Michael McGrail said in a statement. “It’s an opportunity to add to or complement your wardrobe, find unique gifts or simply go on a treasure hunt for extraordinary deals.”

Discounted merchandise includes sweaters and cardigans, blouses and skirts, loungewear and intimates, denim jackets, party and bridal wear, robes and jumpsuits, as well as jewelry, gifts and accessories.

Francesca's shoppers are shown their shoes

Inside a Francesca’s store in Southlake, Texas. (Peter Larsen/WireImage)

Francesca has previously applied 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 following its exit from bankruptcy, Francesca’s attempts at recovery, including launching a pre-teen-oriented line called Franki by Francesca 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.