Francesca's files Chapter 11 bankruptcy, plans to sell company to investor

“Implementing this process allows Francesca’s to address our lease obligations and seek a new investor that can see Francesca’s into the future," said Francesca's CEO Andrew Clarke, adding that the process will allow the company to "continue to focus on our omni-channel strategies, optimize our boutique fleet, broaden our customer reach with brand extensions and drive sustainable, profitable growth."