Francesca's files for bankruptcy, launches closing sales at all locations

Women’s specialty retailer Francesca’s filed for Chapter 11 bankruptcy protection and launched going-out-of-business sales at all its stores.

The company, founded in Houston in 1999, announced Friday that it voluntarily filed for protection in the U.S. Bankruptcy Court for the District of New Jersey. The retailer said the move is intended to facilitate a court-supervised process designed to maximize value for stakeholders.

Francesca's currently has 457 locations in 45 states.

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