RETAIL APOCALYPSE
Mall favorite Francesca's to close all stores in Dallas and nationwide
Francesca's is known for its boho-chic dresses and tops.
After a decade of falling fortunes, Texas-based women’s clothing chain Francesca’s is clearing out all its racks. The once-mighty retailer is closing all of its stores nationwide, including several locations in Dallas-Fort Worth.
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.
Francesca's still had Dallas-Fort Worth stores in West Village, Galleria Dallas, Stonebriar Centre in Frisco, Firewheel Town Center in Garland, The Shops at Legacy in Plano, The Shops at Highland Village, Southlake Town Square, NorthEast Mall, Arlington Highlands, Glade Park in Euless, and Sundance Square and The Shops at Clearfork in Fort Worth.
It’s unclear exactly when the local 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.
