Women’s specialty chain Francesca’s is preparing to shut down.
According to one source, the retailer’s merchants were “let go yesterday with no warning.” And one of the chain’s former buyers indicated that Francesca’s intends to liquidate all goods.
When contacted for comment, a customer service representative wrote in an email on Thursday that “we are liquidating our inventory and closing soon.”
The liquidation is believed to include “inventory that has not been paid for,” according to one of Francesca’s vendors. This vendor, who noted that the firm is owed $250 million in unpaid invoices, said that “there has been no correspondence whatsoever from corporate to any of the…