Francesca’s Files Liquidation Plan, Seeks Vote Later This Month

Boutique women’s clothing chain Francesca’s Holdings Corp. released a plan to wind down its bankruptcy estate following an $18 million sale of the business to an affiliate of TerraMar Capital LLC and Tiger Capital LLC earlier this year.

Francesca’s plan would fully compensate the company’s lenders and pay all professional fees, but didn’t indicate what general unsecured creditors would recover.

The company aims to send the plan to unsecured creditors for a vote later in May, it told the U.S. Bankruptcy Court for the District of Delaware Wednesday.

The Houston-based retailer won court approval in January to sell itself as ...