Francesca’s Lining Up Stalking Horse Ahead of Bid Deadline

Francesca’s Holdings Corp. might submit a finalized stalking horse purchase agreement to its bankruptcy judge as soon as Wednesday, Maria DiConza of O’Melveny & Myers said in a hearing Monday.

• The bankrupt retailer has been negotiating with three potential stalking horse bidders in recent weeks, DiConza said
  • NOTE: TerraMar Capital already submitted an offer to buy Francesca’s; DiConza didn’t identify the interested parties in the hearing
• U.S. Bankruptcy Judge Brendan Shannon during the hearing said he would approve a bid deadline of Jan. 13, but added that the approval of a proposed 3% breakup fee should be shelved until a ...