Francesca's Files For Bankruptcy

(RTTNews) - Francesca's Holdings Corp. (FRAN) said that it has voluntarily filed for relief under chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

The company stated that it plans to use those proceedings to implement a sale process focused on the company's core retail locations as well as its promising digital expansion and new brand launches.

The company previously announced plans to close 140 boutiques and plans to attempt to renegotiate a number of leases during this process, which may include closing additional boutiques. As of today, 558 boutiques remain open for business.