Francesca’s Wins Court Approval to Sell Itself for $18 Million

Francesca’s Holdings Corp. won bankruptcy court approval to sell itself to a TerraMar Capital affiliate and Tiger Capital Group, attorney Maria DiConza of O’Melveny & Myers said in an email on behalf of the company.

• An affiliate of TerraMar will operate the business and keep at least 275 stores open, according to court papers
  • TerraMar is a middle-market investment firm that recently bought candy store chain Lolli & Pops out of bankruptcy, per a declaration from the firm’s managing partner
  • Tiger Capital will run store closing sales for Francesca’s and may buy a minority interest in the entity acquiring ...