Women’s boutique and specialty retail brand Francesca’s, once a mall store staple, will “cease” operations and close all stores across the country, the Houston-based retailer announced in a release.
The Friday announcement coincided with the boutique’s Chapter 11 bankruptcy filing, the release said, with Tiger Group, SB360 Capital Partners and GA Group acting as advisors. According to the announcement, court-approved store closing sales across the brand’s “entire fleet” have begun.
“Major discounts” will be offered at all Francesca’s boutiques and outlet stores across 45 states, the announcement said. Discounted items include sweaters, cardigans, blouses, skirts, loungewear, denim, dresses, rompers, jumpsuits, jewelry, gifts, accessories and more.
“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, Tiger Group said in the announcement. “It’s an opportunity to add to or accessorize your wardrobe, find unique gifts, or just go on a treasure hunt for extraordinary deals.”
According to the release, the brand, founded in 1999 and popular through the 2000s, has filed motions support ongoing operations, including paying employee wages and benefits and honoring obligations to vendors and partners.
“This process provides a structured path to pursue the best outcome for all stakeholders,” said Curt Kroll, CFO. “We remain focused on operating responsibly and supporting our teams, partners, and guests throughout this process.”
It wasn’t immediately clear if these same sales would be taking place on the Francesca’s website. A representative for Francesca’s did not immediately respond to NBC Chicago’s request for comment.
According to the store locator, Francesca’s has nearly a dozen boutiques in malls across the Chicago area, including Algonquin Commons, Woodfield Mall, Westfield Old Orchard, Geneva Commons, Chicago Premium Outlets, Pleasant Prairie Outlets, Yorktown Center and Block 37.
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