Women’s specialty retailer Francesca’s filed for Chapter 11 bankruptcy protection and launched going-out-of-business sales across all of its stores.

The company, founded in Houston in 1999, announced Friday that it voluntarily filed for protection in the U.S. Bankruptcy Court for the District of New Jersey. The retailer said the move is intended to facilitate a court-supervised process designed to maximize value for stakeholders.

Francesca’s currently has 457 locations across 45 states.

Advisors Tiger Group, SB360 Capital Partners and GA Group have launched court-approved store closing sales across the company’s entire fleet.

“Shoppers will find discounts of 25 to 40 percent off across all product categories, and new merchandise will continue to arrive at stores,” Michael McGrail, member at Tiger Group, said in a statement. “It’s an opportunity to add to or accessorize your wardrobe, find unique gifts, or just go on a treasure hunt for extraordinary deals.”

Discounted merchandise includes sweaters and cardigans, blouses and skirts, loungewear and intimates, denim jackets, party and wedding guest dresses, rompers and jumpsuits, as well as jewelry, gifts and accessories.

Francesca’s previously filed for Chapter 11 bankruptcy protection in December 2020, and was later acquired out of bankruptcy by TerraMar Capital and Tiger Group for $18 million.

In the years after exiting bankruptcy, Francesca’s attempted revival efforts, including launching a tween-oriented line called Franki by Francesca’s and acquiring Miley Cyrus and Suki Waterhouse’s lifestyle brand Richer Poorer. The chain also opened a new store at the American Dream mall in East Rutherford, New Jersey, in April 2024.

A spokesperson for Francesca’s did not immediately respond to FOX Business’ request for comment.

FOX Business’ Kristen Altus contributed to this report.

Market veteran Gurmeet Chadha has said that five years ago, it would have been hard to imagine State Bank of India (SBI) overtaking IT heavyweights such as Tata Consultancy Services (TCS) and Infosys in terms of market capitalisation. While stopping short of writing off the tech stocks, the Complete Circle Consultants’ Managing Partner and CIO attributed the remarkable resurgence of PSU banks in recent years to improved risk management practices and accelerated digitisation.

“Who would have thought 5 years back that SBI would have more market cap than TCS and Inf…Great turnaround in PSU banks as they become better risk managers and digitise. I would not write off Indian IT cos…they have the ability to pivot & convert this into an opportunity..,” Chadha said in a tweet on X on Thursday.

The comment comes on the back of a massive sell-off in IT stocks. The Nifty IT index has plunged over 8% over the week due to AI-led worries.

On Thursday, a fresh round of panic selling in tech stocks swept the D-Street. The IT index plunged over 4% to a four-month low, erasing a staggering Rs 1.3 lakh crore in combined market value. Shares of Indian software exporters like TCS, Infosys and Wipro slid more than 4%, hit by persistent fears of AI-led disruption in the sector and compounded by stronger-than-expected US jobs data that dimmed hopes of near-term interest rate cuts.

Nifty IT is the worst-performing index, plunging 21% over the past 12 months.

With a market capitalisation of Rs 10.91 lakh crore on BSE, SBI is the fourth most valuable company and only behind Reliance Industries (RIL, Rs 19.87 lakh crore), HDFC Bank (Rs 14.26 lakh crore) and Bharti Airtel (Rs 11.48 lakh crore).
Meanwhile, TCS’ mcap has slipped to Rs 10.52 lakh crore, while that of Infosys is at Rs 5.97 lakh crore.The companies’ market capitalisation has eroded following a 30% drop in TCS’ share price and a 25% decline in Infosys’ over the past 12 months.
Also read: Shriram Finance at Rs 2 lakh crore Mcap outpaces Nifty as lone multibagger. Can the party continue?

In contrast, the Nifty PSU Bank index has surged over 50% in the last 12 months. Individually, Indian Bank is the top gainer with 63%, followed by 62% returns by SBI, which is swiftly closing the gap.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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Operator

Good morning, and welcome to the Intercorp Financial Services Fourth Quarter 2025 Conference Call. [Operator Instructions] Please be advised that today’s conference call is being recorded. [Operator Instructions]

It is now my pleasure to turn the call over to Mr. Ivan Peill from InspIR Group. Sir, you may begin.

Ivan Peill

Thank you, and good morning, everyone. On today’s call, Intercorp Financial Services will discuss its fourth quarter 2025 earnings. We are pleased to have with us Mr. Luis Felipe Castellanos, Chief Executive Officer, Intercorp Financial Services; Ms. Michela Casassa, Chief Financial Officer, Intercorp Financial Services; Mr. Carlos Tori, Chief Executive Officer, Interbank; Mr. Gonzalo Basadre, Chief Executive Officer, Interseguro; and Mr. Bruno Ferreccio, Chief Executive Officer, Inteligo. They will be discussing the results that were distributed by the company yesterday. There is also a webcast video presentation to accompany the discussion during this call. If you didn’t receive a copy of the presentation or the earnings report, they are now available on the company’s website, ifs.com.pe. Otherwise, if you need any assistance today, please call InspIR Group in New York on (646) 940-8843.

I would like to remind you that today’s call is for investors and analysts only. Therefore, questions from the media will not be taken. Please be advised that forward-looking statements made during this conference call, these do

Hundreds of local residents had opposed the plans that applicants said could have helped create 700 jobs

Councillors have rejected plans to build a business park and around 100 homes on farmland next to the M1 motorway in Wakefield.

Wakefield Council’s planning and highways committee said the major development would have a “severe” impact on the local road network at Calder Grove. More than 2,500 residents signed a petition and 616 lodged formal objections to the scheme at a 22-hectare site at Broad Cut Farm. Opponents said approving it would lead to the loss of the city’s ‘green lungs’.

Applicant AAA Property Group said the development would help the council achieve its housing targets, create more than 700 “high quality” jobs and be worth around £40m a year to the local economy.

But Jonathan Power, chair of the Broad Cut Against Development (BAD) action group, told a meeting at Wakefield Town Hall: “The vast majority of local residents are vehemently opposed to this application. There are no benefits to the local community.

“It certainly doesn’t bring the highly skilled jobs promised in the original plan. It will, however, increase traffic and bring congestion to an already saturated road network. The potential for chaos is absolutely obvious, and all within yards of junction 39 of the motorway. Local councillors and Jade Botterill, MP for Ossett and Denby Dale also objected to the plans, as well as Crigglestone Parish Council and Wakefield Civic Society.

Speaking in favour of the project, Amar Chima, director of AAA Property Group, said the council and West Yorkshire Combined Authority had identified the site as a “future growth location.” He told councillors: “Wakefield has long been recognised as a strategically important location for development, benefiting from excellent connectivity and a strong labour market.

“This proposal responds directly to that demand and will deliver an advanced manufacturing hub to support Wakefield’s economic strategy and the wider West Yorkshire economy.

Mr Chima described his company as a “local family business”, adding: “We have chosen to reinvest in the district that raised us, rather than choosing to take that investment elsewhere. We are fully committed to delivering the best possible scheme at Broad Cut Farm to maximise the benefits for the local area.”

Council planning officers had recommended that the plans be approved, saying there were are “no technical reasons” to withhold permission. But councillors voted in favour of refusing the scheme on highways grounds by a majority of seven votes to two.

Spirit Airlines reached a deal to sell 20 of its Airbus jetliners and is recalling some of the flight attendants who were furloughed late last year amid the budget carrier’s financial struggles.

Spirit is in the midst of going through its second bankruptcy in under two years, after it previously filed for Chapter 11 bankruptcy protection in November 2024 and completed its first restructuring in March 2025. It filed for bankruptcy a second time in August 2025, which prompted the airline to move forward with service cuts and furloughs.

The company said that selling the aircraft will improve its financial situation and the fleet reduction isn’t expected to impact its flight schedule if the court approves the jetliner sales because most of the 20 planes aren’t in service.

“As part of our ongoing restructuring, we have reached an agreement to sell 20 aircraft that have been held for sale for some time. Most of these aircraft are not currently in revenue service,” Spirit said in a statement. 

BUDGET FLIGHTS HANG IN BALANCE AS BANKRUPT SPIRIT AIRLINES TURNS TO PRIVATE EQUITY FOR LIFELINE: REPORT

“If approved by the court, this transaction will give us greater financial flexibility. The aircraft involved will be phased out of our fleet starting in April 2026. We do not anticipate any changes to our near-term schedule or staffing as a result of this transaction,” Spirit added.

The company formally asked a federal bankruptcy court for approval to proceed with the sale on Wednesday. Income from the transaction would go to paying off debt related to the aircraft, while also contributing to lower operational costs.

Reuters reported that the first bidder is CSDS Asset Management, an aviation asset manager that agreed to buy the 20 planes for about $533.5 million. If approved, Spirit would seek competing offers starting at around $554 million, according to an agreement with CSDS, and the auction and sale would be held in April.

SPIRIT AIRLINES FILES FOR SECOND BANKRUPTCY IN UNDER A YEAR AS LOW-COST CARRIER CONTINUES TO STRUGGLE

Spirit Airlines on Thursday moved to recall 500 of the more than 1,300 flight attendants who were furloughed in December due to its ongoing financial struggles.

“As we continue to make adjustments to meet the evolving needs of our business, we are issuing recall notices to 500 Flight Attendants who were involuntarily furloughed on Dec. 1, 2025. Recalled Flight Attendants will be sent a notice on Feb. 12, 2026, and those who accept will return to duty in the timeframe detailed in the Collective Bargaining Agreement.”

UNITED AIRLINES CEO GIVES 5-WORD PREDICTION THAT LOW-COST RIVAL WILL GO OUT OF BUSINESS

The Association of Flight Attendants-CWA, the union which represents Spirit flight attendants, said in a statement posted to the X social media platform that it will be recalled in order of system seniority, with those involuntarily furloughed first.

“This is good news for 500 Flight Attendants and their families and critical to those of us on the line that have faced a grueling operation over the last two months. The company’s goal in recalling Flight Attendants is to ease some of the operational issues since the furloughs,” the union said.

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The union added it will continue to press management on scheduling issues, access to healthcare and other benefits, as well as a dependability policy and other matters.

Reuters contributed to this report.