đ„New Chapter 22 Bankruptcy Filing - Francesca's Acquisition LLCđ„
Speciality womenâs apparel and accessories retailer meets its maker after defaulting on debt.
On February 5, 2026, a little more than five years after filing for bankruptcy the first time in the District of Delaware, Houston-based speciality womenâs apparel and accessories retailer Francescaâs Acquisition LLC and three affiliates (together, the âdebtorsâ or the âcompanyâ) filed chapter 22 bankruptcy cases in the Southern District of Texas District of New Jersey (Judge Hall).*
Johnny previously flagged this situation âŠ
⊠but now, two weeks later, itâs time for the proper Sopranos-style burial.
Which is sad.
The company is over 27 years old and, at its peak 10 years ago, did $500mm in sales across 700 stores.** The debtorsâ merchandise is distributed through their leased warehouse and distribution center within corporate HQ in Houston; the debtorsâ stores, though, are where most of their 3k employees are and â poor souls â theyâll have to help with the gravedigging, đ.
The lenders are providing the shovels (and permitting the use of their cash collateral). The debtors are party to a prepetition credit agreement with Tiger Finance LLC (âTigerâ) and Second Avenue Capital Partners LLC (âSACPâ) as administrative/collateral agent and funding agent, respectively, pursuant to which the debtors owe approximately $30.1mm ($26.1mm RCF, $4mm term loan). Theyâre in default as of January â26.
What precipitated the default? A long-brewing clusterf*ck cocktail: