Wet Seal news and archive

Wet Seal set for brand reinvention with new apparel collection

Wet Seal is set for a reemergence with the launch of a new collection. The online-only brand is set to release a new line, featuring YouTube stars Niki and Gabi as spokesmodels. The 23-year-old twin social media sensations Niki and Gabi DeMartino currently have a devoted fanbase of 6 and a half million viewers. The two recently teamed with...

Report

Restructuring firm wins biding race over Wet Seal with a 3 million dollars offer

The Boston-based advisory, restructuring and investment firm Gordon Brothers, has announced earlier this month that it is acquiring the Wet Seal brand, pending final court approval. Barely two days after the firm made its offer public, a bankruptcy judge approved the purchase. Judge Christopher S. Sontchi of the U.S. Bankruptcy Court in...

Management|ANALYSIS Featured

Will U.S. retail names dominate bankruptcy headlines in 2017?

Barely one month into the year and the number of companies requesting bankruptcy protection has dramatically increased within the U.S. retail industry. A new report reveals the number of bankruptcy filings by U.S. retailers with at least 250 million dollars in liabilities nearly doubled in 2016. The rate of Chapter 11 filings is often an...

Report|UPDATE

Wet Seal to close all stores as it “will receive no further financing”

The Californian apparel firm has hang the ‘closed’ sign for once and all as reported over the weekend. Wet Seal’s ultimate decision comes barely after two years after it closed down two-thirds of its commercial network and filed for Chapter 11. A letter dated January, 20 cited by the ‘Wall Street Journal’, gathers Wet Seal vice president...

Business

Wet Seal to have lay offs at headquarters

As Wet Seal has struggled financially in the past year, the youthful retailer has confirmed that it is considering bankruptcy recently. As a result of this, the teen apparel company is going to lay off 148 workers at its headquarters. The fast fashion apparel company is headquartered at Irvine in California. According to Wet Seal’s LinkedIn...

ManagementFeatured

Wet Seal – considering bankruptcy yet again?

After failing to turn around the business, Wet Seal’s owner is considering to bid farewell to the teen apparel retailer. Versa Capital Management is said to be exploring either taking the company bankrupt or sell it. Wet Seal LLC is exploring liquidation or a sale, according to news reports cited by the ‘Orange County Business Journal’. Sources...

Retail

Wet Seal to open 13 pop-ups for holiday season

Youthful women’s retailer Wet Seal is set to expand in its retail presence this holiday season. During this fall, the contemporary fashion brand will open 13 pop-up locations throughout the U.S. The temporary locations will all open next month on Thursday, November 3. The brick-and-mortar pop-ups will be in between 3,000 to 5,000 square feet....

People

Wet Seal names Judd P. Tirnauer CFO

Wet Seal has named Judd P. Tirnauer their new executive vice president and chief financial officer. Tirnauer will enter his new role on May 1. He succeeds current chief financial officer Thomas R. Hillenbrandt who is leaving to pursue other opportunities. Hillenbrandt has not disclosed what his next move after Wet Seal will be. Tirnauer was most...

Fashion

Wet Seal revamps under new chief executive

After an exhausting year of ups and downs, Wet Seal is beginning its revamp. The retailer, known for trendy women’s clothing, underwent bankruptcy protection filing and new executive employee changes. Through these new alterations and after enduring hardships, the company is finally putting plans in motion to move forward. The youthful women’s...

People

Bill Langsdorf named new CEO of Wet Seal

In an effort to turn the struggling company around, teen retail chain Wet Seal has let go of former CEO Ed Thomas, and replaced him with new CEO Bill Langsdorf. Langsdorf is the former CFO of California based sports retailer Tilly's Inc. Since November, he has been serving as an adviser to Wet Seal as the company makes an attempt to boost...

Business|UPDATE Featured

Versa Capita Management wins bidding race over Wet Seal

Philadelphia-based capital firm Versa Capital Management has been the winning tender in a close bidding race to acquire teen clothing retailer Wet Seal, which filed for Chapter 11 bankruptcy two months ago. “We believe our agreement with Versa provides the best possible outcome for our creditors, employees, customers and other constituents,” Wet...

BusinessFeatured

Wet Seal: where we stand now?

Wet Seal’s bankruptcy, as well as its plans to find some sort of viability, is being closely followed by many in the trade, who see the troubled retailer as that which belled the cat for other teen apparel retailers. After filling for voluntary bankruptcy, Wet Seal plans to survive its Chapter 11 case and emerge as a smaller chain. Thus, the US...