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Francesca's for Sale: Another Retailer Goes Bankrupt

·3 min read

Houston-based Francesca's Holdings Corporation (NASDAQ: FRAN) announced Dec. 3 that it had filed for Chapter 11 bankruptcy protection and secured from its current lender, Tiger Finance, a $25 million debtor-in-possession financing commitment to continue operations and meet its financial obligations while the business is being sold. Francesca's Holdings already had announced plans to close 140 of its stores while it tried to renegotiate a number of leases and that more closures could follow. Francesca's Holdings joins a growing list of retailers that have gone bankrupt during the coronavirus pandemic.