Women’s boutique chain Francesca’s has voluntarily filed for Chapter 11 bankruptcy protection, with plans to sell the business, including its brick-and-mortar stores.
The Houston-based clothing chain is the latest retailer to file for bankruptcy during the coronavirus pandemic, joining Guitar Center, New York & Company, J.C. Penney, Stein Mart, Sur La Table, Ascena Retail Group, Tuesday Morning and others.
According to a news release, Francesca’s filed Thursday in U.S. Bankruptcy Court in Delaware, which noted it still plans to close about 140 of its 700 stores previously announced in September.
Source: USA Today
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