RETAIL APOCALYPSE
Texas-based Francesca's reportedly shuttering all Austin stores
Francesca's is known for its boho-chic dresses and tops.
After a decade of falling fortunes, Houston-based women’s clothing chain Francesca’s is clearing out all its racks. The once-mighty retailer is closing all of its nationwide stores, including six locations in the Austin area.
Although the company has not made any official pronouncement, Women’s Wear Daily reports 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.
Francesca’s 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.
That explosive growth did not prove to be popular with shareholders. That same year, the Wall Street Journal reported that its stock prices had plunged to their lowest price since Francesca’s went public in 2011. Despite leadership changes, the chain has been on a downward slope since.
In 2020, Francesca’s 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.
After completing reorganization and being bought out of bankruptcy by an affiliate of TerraMar Capital and Tiger Capital Group, Francesca’s attempted a revival by launching a tween line, Franki by Francesca’s, and gobbling up celebrity-endorsed lifestyle brand Richer Poorer.
It’s unclear exactly when the Austin stores will shutter, but the company recently changed its return policy to state all sales are final after January 14. A request to Francesca’s corporate headquarters for comment was not immediately returned.
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