Wet Seal is closing all of Their Stores.
Wet Seal has failed to get the capital or find a buyer for the company since their 2015 bankruptcy protection filing. Wet Seal is planning on closing all 170+ stores. In January 2015, Wet seal closed 338 out of their 511 stores. Wet Seal primary consumers are teens who lean towards other retail stores like H&M. The popularity of online retailers has caused less foot traffic in the malls. The teen retailer lost over $35 million in the 3rd quarter of 2015. 148 of the employees at the company’s headquarters will be laid off along with the employees at all of the stores.
Not all of the employees are taking the Wet Seal closing lightly.
What do you think?