March 19, 2019 – Oak Point Partners acquired the remnant assets of the The Wet Seal, LLC and its affiliated debtors’ Bankruptcy Estates (Wet Seal) in March 2019. On February 2, 2017, Wet Seal and its affiliates each filed a voluntary petition under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware, jointly administered under Case No. 17-10229. Thereafter, Wet Seal worked to wind down their bankruptcy cases.
About The Wet Seal, LLC
Wet Seal was a national retailer selling fast fashion apparel and accessory items designed for female customers aged 18 to 24 years old. At it peak in 2010, the company operated 504 retail stores in 47 states and Puerto Rico. Wet Seal acquired Contempo Casuals, Inc. in 1995, tripling the size of the company. Founded in 1962, Wet Seal started out as a beachwear retailer.
Wet Seal also operated under the trade name Mador Financing, LLC.
The former headquarters of Wet Seal was located in Irvine, CA. The company also had corporate addresses in Foothills Ranch, CA, Richmond, VA, and Laguna Beach, CA.
Related Entities: Mador Financing, LLC