News Briefs

Francesca’s may soon disappear from the retail landscape.

The young women’s clothing and accessories chain is getting ready to shut down, reported Women’s Wear Daily. A customer service representative told WWD in an email that 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, the report said. The vendor told WWD it is owed approximately $250 million in unpaid invoices and that "there has been no correspondence whatsoever from corporate to any of the vendors."

Francesca’s is offering 20% off everything sale on its website, with clearance listed up to 80% off. There is no mention on the site of the company going out of business.

Francesca’s, which was founded in 1999, operates more than 450 stores nationwide, according to its website. The Houston-based retailer declared bankruptcy in 2020 and was sold out of bankruptcy in January 2021 to Francesca’s Acquisition LLC, an affiliate of private equity firm TerraMar Capital, for $18 million. Tiger Capital and SB360 Capital Group were also part of the group that acquired Francesca’s out of bankruptcy.

A&G Real Estate has brought in a new partner to lead its restructuring, financing, and M&A transactions.

Jacob Czarnick, an investment banker for more than 20 years, will focus on restructuring, special situations, and M&A transactions for A&G.

Czarnick arrives at the real estate services company from Raymond James & Associates, where he served as a managing director in its restructuring group. He began his career in corporate finance and M&A at Credit Suisse First Boston and later worked at Bank of America and Citigroup. 

Czarnick has advised transactions in industries that include retail, healthcare, communications, energy, financial services, technology, transportation and utilities. 

“Jacob has spent years representing both companies and creditors,” said A&G co-president Andy Graiser. “That gives him a 360-degree perspective that will directly benefit our clients. He’s a fantastic fit.”

Czarnick will lead business development and strategy to drive growth across sectors and to pursue new business opportunities in lease restructuring, fee-owned property sales, lease mitigation, and capital solutions. 

“A&G has built an impressive real estate advisory practice for some of the most complex cases,” said Czarnick. “They have advised an impressive roster of blue-chip firms across industries in lease optimization and new store growth, as well.” 

Meijer is the latest retailer to enter the telehealth market.

The regional Midwest mass merchandise retailer is teaming with digital healthcare platform WellSync to provide customers with access to virtual healthcare services for common conditions.

Through WellSync, Meijer customers can receive in-home treatment for everyday health concerns, such as cold, flu, allergies, and hair loss. The service costs $29.99 per visit, requires no insurance, and is accessible through the Meijer website or its pharmacy app.

The virtual visits are conducted by board-certified healthcare professionals, providing patients with personalized care and treatment recommendations. Meijer customers can utilize the WellSync service by selecting the Virtual Care option on the pharmacy section of the retailer’s e-commerce site or mobile app, or texting care to a designated number to gain access on their mobile device.

"We're focused on making healthcare simple and convenient for our customers," said Don Sanderson, chief merchandising and arketing officer at Meijer. "As a one-stop shop, this new virtual care option helps our customers stay healthy year-round."

Several other retailers have also launched telehealth offerings. Notable participants in the space include Amazon, which acquired membership-based primary health care provider One Medical for $3.9 billion in February 2023 and transitioned the service to Amazon One Medical with pay-per-visit and annual subscription options in November 2024.

Meanwhile, Walmart sold its MeMD telehealth platform to healthcare technology company Fabric for an undisclosed sum in July 2024, but just debuted Better Care Services, a one-stop digital telehealth destination.

[READ MORE: Walmart launches digital health care platform]

Other examples include Kroger, which offers a free virtual nutrition coaching program called "OptUP Your Nutrition."

Meijer operates more than 500 supercenters, grocery stores, neighborhood markets and express locations throughout the Midwest.