After a decade of falling fortunes, Texas-based women\u2019s clothing chain Francesca\u2019s is clearing out all its racks. The once-mighty retailer is closing all of its stores nationwide, including several locations in Dallas-Fort Worth.<\/p>\n
Although the company has not made any official pronouncement, Women\u2019s Wear Daily reports<\/a> that the brand is currently in the process of liquidating all of its inventory. According to the fashion industry trade journal, some employees are reporting that they were let go without warning, while vendors are allegedly seeking payment on hundreds of millions of dollars in unpaid invoices.<\/p>\n Francesca\u2019s was founded in Houston in 1999, becoming sought out for its boho-chic offerings that occupied a similar lane to Anthropologie. Over roughly 15 years, it quickly ramped up its footprint, peaking at over 600 locations by 2016.<\/p>\n That explosive growth did not prove to be popular with shareholders. That same year, the Wall Street Journal reported<\/a> that its stock prices had plunged to their lowest price since Francesca\u2019s went public in 2011. Despite leadership changes, the chain has been on a downward slope since.<\/p>\n In 2020, Francesca\u2019s filed for Chapter 11 bankruptcy protection while it sought a buyer for its online operation and brick-and-mortar stores. The chain closed almost 250 of its storefronts by early 2021.<\/p>\n After completing reorganization and being bought out of bankruptcy by an affiliate of TerraMar Capital and Tiger Capital Group, Francesca\u2019s attempted a revival by launching a tween line, Franki by Francesca\u2019s, and gobbling up celebrity-endorsed lifestyle brand Richer Poorer.<\/p>\n