There are reports that women’s clothing retailer Francesca’s will be closing.
Women’s Wear Daily reported that the chain will liquidate its inventory and close all locations.
A timeline for the possible closure was not disclosed, the Houston Chronicle reported.
A customer service representative told WWD via email, “we are liquidating our inventory and closing for good.”
A vendor told the publication that it is owed $250 million in unpaid invoices and that the liquidation would include “inventory that has not been paid for.”
Fox Business reported that some employees were let go with no notice.
Francesca’s corporate offices or parent company, TerraMar Capital, responded to Fox News Digital’s, People magazine’s or the Chronicle’s requests for comment. There is also no indication of the liquidation on the company’s online store.
People magazine noted that there is a “warehouse sale” with all clearance items priced at $15.
Francesca’s opened in 1999 by three siblings and a friend.
The chain filed for bankruptcy in 2020 and closed hundreds of stores, unable to compete with online stores and the COVID-19 pandemic, the Chronicle reported. It was sold to TerraMar Capital and Tiger Capital in 2021.
There were more than 450 locations in 45 states, including Florida, Georgia, Massachusetts, North Carolina, Pennsylvania, Ohio and Washington state.
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