Womenswear retailer Francesca’s begins liquidation process

US womenswear retailer Francesca’s is believed to have begun closing its stores after sources suggested it had launched a liquidation process last week. A bankruptcy filing is also anticipated.

According to WWD, when contacted for a comment, a customer service representative told the media outlet that “we are liquidating our inventory and closing soon”. The publication also said staff at some stores had been let go “without warning”.

A vendor for the retailer claimed it had 250 million dollars in unpaid invoices. “There has been no correspondence whatsoever from corporate to any of the vendors,” the unnamed source said. FashionUnited has contacted Francesca’s for more information.

Founded in 1999, Francesca’s established a reputation for alternative accessories and speciality womenswear. Its website currently lists 457 stores across 45 US states. Its descent into liquidation comes amid a period of financial turbulence for the mall-based retailer.

Struggles began mounting during the pandemic, leading to a Chapter 11 filing in December 2020. A new owner, TerraMar Capital LLC, stepped up to acquire the chain in February 2021, taking the company private and embarking on a multiyear growth strategy that prioritised its e-commerce channel and scaling its tween brand, Franki by Francesca's.

Despite continued store openings and the acquisition of LA lifestyle brand Richer Poorer, reports of unpaid vendors and customers going without refunds began circulating again in 2024.