Francesca’s receives 90-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., March 15 – Francesca’s Holdings Corp. received a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the court extended the plan filing period through July 1 and the solicitation period through Aug. 30.

The company said that since the petition date, the debtors’ focus has been on successfully completing the sale of substantially all of their assets, which closed on Jan. 30, and transitioning operations to the buyer.

The extensions will provide the debtors with the opportunity to continue to work with the creditors’ committee to formulate a plan to liquidate their remaining assets in a value maximizing manner and to make distributions, the company said.

Francesca’s is a Houston-based specialty retailer that operates a chain of boutiques providing apparel, jewelry, accessories and gifts. The company filed bankruptcy on Dec. 3 under Chapter 11 case number 20-13076.

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