Wet Seal

Wet Seal Closing All 171 Stores Nationwide, Including At Mall St. Matthews

... this week. Friday, January 27 2017 1:27 AM EST 2017-01-27 06:27:33 GMT. Despite wins against Kansas and North Carolina, Tom Crean's Indiana team is no lock for the NCAA Tournament. Despite victories against Kansas and North Carolina, Indiana showed it's no lock for the NCAA Tournament while losing to Michigan by 30 points Thursday. Friday, January 27 2017 1:42 AM EST 2017-01-27 06:42:56 GMT. Chase Murphy was part of the search party, and he said he felt like he needed to help the family, so he took to social media. The Clark County community is coming together, a week after a 2-year-old boy drowned in a creek near his home. Thursday, January 26 2017 4:51 PM EST 2017-01-26 21:51:24 GMT. JCPS says one its bus drivers was suspended back in November for grabbing a student by the neck, shoving him and then kicking him while he was down. Friday, January 27 2017 1:28 PM EST 2017-01-27 18:28:38 GMT. WDRB photo by Eric Crawford. WDRB's Eric Crawford takes a deeper look at Louisville basketball coach Rick Pitino's defense to the NCAA allegations against him, and how it may be received by the committee on infractions. ...

Teen Retailer Wet Seal Is Suddenly Closing All Of Its Stores

... stated in mid-December 2016, it's "Yak to square one" for this California social media startup. The company laid off 60 percent of its employees, leaving only 20 remaining at. more. Photo: Ronald Lizik. Image 10 of 20. Time Warner Cable. After much wrangling with trade groups and the U. S. government over a proposed purchase by Comcast, the telecommunications company was instead purchased by Charter Communications in May 2016. The new owners already have plans to phase out the old "Warner" moniker in favor of their own: Charter Spectrum. Time Warner Cable. After much wrangling with trade groups and the U. S. government over a proposed purchase by Comcast, the telecommunications company was instead purchased by Charter Communications in May 2016. more. Photo: Mark Lennihan, STF. Image 11 of 20. The American ...

Struggling Wet Seal Mulls Options, Bankruptcy Likely

... winds down its brick-and-mortar business. As with Wet Seal if it files for bankruptcy, American Apparel's latest insolvency case was its second trip in Chapter 11. "Unless they have a radical, fundamental change, oftentimes a Chapter 22 case is the end," Yang said. "Chapter 22" is the unofficial term given to a company's second Chapter 11 filing. By having a plan confirmed by a bankruptcy judge, the debtor is essentially pledging that its reorganized company will not fall back into insolvency. So, if it ends up in Chapter 11 a second time, it is unlikely it will be able to emerge as a reorganized entity, Yang said. Yang said, too, that because Wet Seal was bought out by a private equity firm in its first trip, Versa will likely want to protect its own interests and not take on the risk of maintaining underperforming stores, largely located in malls. Mall-based retailers are struggling to boost traffic at their locations. Macy's ( M ) saw a 2.1% slip in comparable store sales in November and December while Sears ( SHLD ) has seen a 12% decline in same-store sales. Wet Seal was ...

Wet Seal To Close Stores, Lay Off Workers

... 171 stores in 42 states. It employs roughly 3,000 people. Falling mall foot traffic, the onslaught of fast-fashion brands and the growth of e-commerce have led several clothing retailers, including Anaheim-based Pacific Sunwear of California, to file for bankruptcy. A Pac Sun reorganization plan was approved in September. Under the plan, Pac Sun gave its stock to affiliates of private equity firm Golden Gate Capital, its senior lender. Huntington Beach-based Quiksilver filed for Chapter 11 bankruptcy protection in September 2015. In October of that year, the company received court approval for a $175 million financing package with Oaktree Capital Management, which now holds a controlling interest in the company. The company emerged from bankruptcy last February with plans to refocus shops on customer experiences. Aeropostale Inc. filed for bankruptcy in May. A group of buyers ...

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Teen Retailer Wet Seal Explores Options, Including A Sale

... and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or register. by Caletha Crawford on  Jan, 27 2017 in E-commerce Retail. E-commerce giant Alibaba reported revenue of 53.2 billion yuan ($7.7 billion), a steep 54 percent year-on-year increase for the quarter ending Dec. 31, 2016. This content is for Annual, Monthly and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or register. by Genevieve Scarano on  Jan, 27 2017 in Business. Burlington Stores promoted three executives and former Lane Bryant executive Linda Heasley is now the new CEO of another Ascena chain. This content is for Annual, Monthly and Limited members only. You can read up to five free articles each month with a Limited Level Subscription. Please log in, or register. by Caletha Crawford on  Jan, 27 2017 in Business. Every year has its hallmarks, which affect global sourcing in ...

Shopping Habits Are Changing, And Teen-oriented Retailers Like Wet Seal Are Among The Casualties

... and interest waned. Its reputation suffered after a racial bias suit alleged the company replaced black employees with white ones. (Wet Seal paid a $7.5 million settlement in 2013.). After two years of losses amounted to more than $150 million, Wet Seal in 2015 closed more than 330 stores, laid off around 3,700 employees and filed for Chapter 11 bankruptcy protection. Versa Capital Management, a private equity firm, acquired the retailer that year. Versa Capital declined to comment; Wet Seal did not immediately respond. According to its website, Wet Seal operates 171 stores in 42 states and employs more than 3,000 people. Wet Seal’s decline can be traced to a loss of identity, according to retail experts. Wet Seal is not the only teen-targeted fashion firm to have suffered in recent years. Once-trendy retailers such as American Apparel and the Limited have struggled in part because of changing buying habits that prioritize steep deals and of-the-moment looks ahead of brand loyalty. After its second bankruptcy protection filing , American Apparel was  sold this month to Canadian firm Gildan ...