A retailer of women’s apparel and accessories with more than 400 stores nationwide plans to shut down, according to a report from Women’s Wear Daily.
The Houston-based Francesca’s has yet to respond to requests for comment or confirmation, though media outlets, including the Houston Chronicle and the Houston Business Journal, have also shared the news from the initial report.
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On Thursday, a Francesca’s customer service representative told Women’s Wear Daily the company is “liquidating our inventory and closing soon,” according to the report.
The retail chain opened its first boutique in Houston in 1999. It now has its headquarters in Northwest Houston. The brand has 457 boutiques across 45 states, according to its website.
In November 2020, Francesca's had 700 stores across 47 states. That same month, the company filed for Chapter 11 bankruptcy and announced plans to close about 140 stores. Francesca’s completed a strategic review prior to the pandemic to turn around its financial performance, then cited the pandemic’s exacerbation of issues facing brick-and-mortar stores, the HBJ reported.
An affiliate of TerraMar Capital and Tiger Capital Group bought the brand for $18M in February 2021. The brand expanded in the following years, opening new stores, keeping a lean inventory and shifting its attention to e-commerce, the Houston Chronicle reported.
Many of Francesca’s boutiques are in malls, similar to accessories retailer Claire’s, which filed for Chapter 11 bankruptcy and faced potential liquidation last year.
Claire’s briefly planned to close 700 stores before a new private equity owner bought the brand and announced plans to keep most of the stores open.
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