A popular woman's fashion brand began liquidation this week after closing more than 700 stores, including 33 in California.
Francesca's, a women's fashion boutique and mall staple, had its bankruptcy plan approved by a judge last week. It had already closed most of its stores. Francesca's website is still online advertising its liquidation sale, but it is no longer an operating online store as of Thursday morning.
In March, Francesca's won court approval of a $7 million sale of its intellectual property to Stand Out For Good Inc., the owner of faith-based clothing retailer Altar'd State.
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The business filed for Chapter 11 bankruptcy in February and struggled with more than $30 million in secured debt. The company closed 33 stores in California as part of its nationwide shutdown of all locations following bankruptcy filings.
This wasn't the first time the brand filed for financial help, however.
According to court filings, Francesca's restructured under Chapter 11 after a combination of "operational challenges and the economic shutdown caused by COVID-19."
Founded in 1999, Francesca's grew to around 200 physical stores nationwide by 2010 and was sold publicly in 2011.
At its height between 2016 and 2017, the chain was made up of around 700 stores and recorded $500 million in sales.
Along with its website, the business primarily operated its boutiques within upscale malls and shopping centers.
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