Francesca’s Holdings Corp. is preparing to file for bankruptcy, Bloomberg News reported. The boutique-style women’s clothing chain could file as soon as this week, though the timing and plan could still change. Francesca’s problems predate the disruption that came in the wake of the pandemic. It posted two years of losses and scrapped a strategic review last year after top executives departed. The Houston-based retailer named Andrew Clarke as its new chief executive officer in February after a delayed search. Clarke earlier headed the Loft chain of Ascena Retail Group Inc., which has also made a trip to bankruptcy court this year. Francesca’s said in September that it had hired advisers to explore strategic alternatives, including bankruptcy. Last week, it announced that it would permanently close about 140 of its 700 stores and seek bankruptcy protection if it couldn’t raise more capital.
