US garment chain Francesca’s is planning to shut 97 more stores after filing for bankruptcy safety, according to court documents. The Houston-headquartered firm, which filed for Chapter 11 recently, had earlier stated it wants to close about 140 of its 700 stores. Roughly half of its stores are in US procuring malls.
Francesca’s at present has a takeover offer from TerraMar Capital, which is serving as the stalking horse bidder in its sale course.US garment chain Francesca's is planning to shut 97 more stores after filing for bankruptcy safety, according to court documents. The firm, which filed for Chapter 11 recently, had earlier stated it wants to close about 140 of its 700 stores. At present, it has a takeover offer from TerraMar Capital, the stalking horse bidder in its sale process.#
Its present lender, Tiger Finance, has dedicated to present a $25 million bankruptcy mortgage. Francesca is aiming to full a sale by late January, according to US news media reports.
Fibre2Fashion News Desk (DS)
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