Francesca's Holdings Corporation (FRAN) News
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Latest FRAN News From Around the Web
Below are the latest news stories about Francesca's Holdings CORP that investors may wish to consider to help them evaluate FRAN as an investment opportunity.
Francesca receives First Day Motions court approval for ongoing operationsFrancesca's (FRAN) all "First Day" motions presented to the U.S. Bankruptcy Court for the District of Delaware on Dec.8, 2020 were approved on either an interim or final basis by the Court.The approval permits the company to continue using its existing cash management system and customer programs, pay certain prepetition... |
What Stitch Fix's Growth Says About The Future Of Shopping For ClothesStitch Fix Inc's (NASDAQ: SFIX ) stock soared after the company reported a surprise fiscal Q1 profit and CFO hire. Besides beating profit and revenue estimates, Stitch Fix announced it hired Amazon.com, Inc. (NASDAQ: AMZN ) veteran Dan Jedda as CFO. Shares rose nearly 50%. The strong results, along with accelerated customer growth and upbeat outlook come as dozens of apparel retailers such as J.Crew, Brooks Brothers, Lucky Brand, J.C. Penney and Francesca's Holdings Corp (NASDAQ: FRAN ) have filed for bankruptcy protection. Q1 Results In addition to double-digit YoY revenue growth for the quarter ending October 31st, Stitch Fix saw the highest sequential net client additions in its history as its active client count grew to nearly 3.8 million. This is both a quarter-over-quarter increas... |
francesca’s® Receives Court Approval of First Day Motions to Support Ongoing Operationsfrancesca’s® Boutiques and E-commerce Continue to Provide Customers a Unique, Fun and Personalized Shopping Experience Obtains Interim Approval to Access $15 Million of DIP Financing to Facilitate Sale Process While Continuing to Serve Customers in the Ordinary CourseHOUSTON, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Francesca’s Holdings Corporation (Nasdaq: FRAN) today announced that all “First Day” motions presented to the U.S. Bankruptcy Court for the District of Delaware (the “Court”) on December 8, 2020, which were filed in connection with the commencement of the Company's voluntary reorganization cases, were approved on either an interim or final basis by the Court.The approved First Day motions permit the Company to, among other things, continue use of its existing cash management syste... |
Francesca's for Sale: Another Retailer Goes BankruptHouston-based Francesca's Holdings Corporation (NASDAQ: FRAN) announced Dec. 3 that it had filed for Chapter 11 bankruptcy protection and secured from its current lender, Tiger Finance, a $25 million debtor-in-possession financing commitment to continue operations and meet its financial obligations while the business is being sold. Francesca's Holdings already had announced plans to close 140 of its stores while it tried to renegotiate a number of leases and that more closures could follow. Francesca's Holdings joins a growing list of retailers that have gone bankrupt during the coronavirus pandemic. |
Francesca’s files for bankruptcyFrancesca's Holdings (FRAN) files for Chapter 11 bankruptcy, the latest clothing retailer to reorganize under court protection amid the pandemic.Francesca's says it plans to use the proceedings to implement a sale process, and has received a commitment from existing lender Tiger Finance for a $25M debtor-in-possession (“DIP”) financing facility to... |
Francesca’s Files for Bankruptcy With Pandemic Toll Growing(Bloomberg) -- Boutique women’s clothing chain Francesca’s Holdings Corp. filed for bankruptcy after the pandemic eroded the company’s already flagging sales.The Houston-based company sought Chapter 11 protection in U.S. Bankruptcy Court in Delaware late Thursday with plans to sell the business, according to a statement. TerraMar Capital LLC or an affiliate has agreed to become the stalking-horse bidder in a court-supervised auction, and Francesca’s existing lender, Tiger Finance LLC, has committed to provide a $25 million bankruptcy loan, the retailer said.“Implementing this process allows Francesca’s to address our lease obligations and seek a new investor that can see Francesca’s into the future,” Andrew Clarke, chief executive officer, said in the statement. Other potential bidders ... |
Francesca’s Files for Bankruptcy, Eyes SaleThe retailer said late Thursday it plans to use the bankruptcy process to sell its core businesses. |
Francesca's is latest retailer to file for bankruptcy during pandemicFrancesca's Holdings Corp. filed for Chapter 11 bankruptcy on Friday, after the women's apparel retailer was unable to meet all of its obligations during the pandemic. The company said it will continue to operate its business as a "debtor-in-possession" under the care of the Bankruptcy Court with a DIP loan of $25 million, $10 million of which will be made available immediately to allow it to finance operations, pay wages and vendors. In November, Francesca's said it would close 140 stores by Jan. 31, 2021 and expected to incur charges totaling $29 million $33 million through Oct. 31, 2020 related to the store closures. Shares were halted premarket for the news, but have fallen 74% in the year to date, while the S&P 500 has gained 13%. |
francesca’s® Files Voluntary Chapter 11 to Implement SaleCompany Obtains $25 Million in Financing to Facilitate Sale Process While Continuing to Serve Customers in the Ordinary Course Process Aimed at Addressing Lease Obligations, Positioning the Company for New Ownership for Long-Term and Brand SustainabilityHOUSTON, Dec. 03, 2020 (GLOBE NEWSWIRE) -- Francesca’s Holdings Corporation (Nasdaq: FRAN) today announced that the Company, along with its subsidiaries, has voluntarily filed for relief under chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on December 3, 2020. francesca’s® intends to use these 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 will be filing a motion seeking auth... |
Francesca's craters after revealing plan to close more storesThe vaccine may not arrive quick enough to save all the mall retailers still in operation.Francesca's ([[FRAN]] -32.5%) slides after disclosing that it plans to close approximately 140 boutiques by January 30.The company continues to evaluate various alternatives to improve its liquidity and financial position, including more lease concessions and... |