The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Francesca's Holdings Corporation on January 11, 2021. The Court approved the asset purchase agreement between the debtor and Francesca’s Acquisition, LLC and Tiger Capital Group, LLC, the stalking horse bidder, for the sale of substantially all its assets for a purchase price of $17.36 million minus the Inventory Shortfall, minus the Accounts Receivable Shortfall minus the Freight Shortfall, minus the Prepaids Shortfall. The stalking horse bidder would be entitled to a break-up fee of 3% of the purchase price and expense reimbursement in case of termination of the asset purchase agreement.