Bankrupt Francesca’s Holdings to Shutter Nearly 100 More Stores

Francesca’s Holdings Corp. closed 137 stores prior to its bankruptcy filing and will shutter almost 100 more “underperforming” locations during the Chapter 11 process, court papers show.

• The retailer operated 558 stores across the U.S. as of Dec. 1, according to the court declaration from Chief Executive Officer Andrew Clarke
• NOTE: TerraMar Capital LLC has offered to buy Francesca’s as a going concern
  • The purchase price is $23 million but is subject to a smattering of adjustments, including cure costs and a working capital adjustment, per court papers
  • The so-called stalking horse bid, if approved by the court, would set ...