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 4, 2021. To qualify as a qualified bidder, interested parties should submit their bids by January 13, 2021. The initial minimum overbid should be in the amount of $0.25 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on January 15, 2021. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee and expense reimbursement in case of termination of the asset purchase agreement. The sale hearing is scheduled for January 21, 2021.