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

Francesca’s Holdings Corp. (Nasdaq: FRAN) has filed for bankruptcy protection and plans to sell itself, the Houston-based specialty fashion retailer announced late Dec. 3. The company plans to pursue a section 363 auction and sale process through the bankruptcy court as expeditiously as possible and is working to line up a stalking horse bidder, according to a press release. “Implementing this process allows Francesca’s to address our lease obligations and seek a new investor that can see…