HOUSTON — Houston-based retailer Francesca's is the next popular retail to be hit hard by the coronavirus pandemic.
Cheddar reported the company it plans to close roughly 140 stores as a result of declining foot traffic and temporary store closures. That's nearly 20 percent of its fleet of stores.
The retailer also warned that it may have to file for bankruptcy to help alleviate its multimillion-dollar debt.
Francesca's didn't specify which locations would be shutting down, but according to Business Insider, these changes are expected to happened by the end of January.
Francesca's joins a wave of other retailers scaling back operations amid the pandemic such as JC Penney, Neiman Marcus and Brooks Brothers.
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