Η φαλάκρα is a noun, and the idiom seems to be with έχω, i.e., ‘I have baldness’. Φαλακρός is the adjective, and can be used with είμαι. Thus, είχε φαλάκρα but ήταν φαλακρός.
English Translation
The King of France is bald.
Something I missed the first time: the verb should be in the present tense: έχει, not είχε. It has been edited on Tatoeba.