It looks like it’s the end of the line for one-time teen favorite store chain Wet Seal.
The mall-based retailer is planning to close all of its 173 or so stores after failing to turn its business around, according to several media reports. The company did not immediately return a request from Fortune for comment, but a worker adjustment and retraining notification (WARN) with the state of California last week said it was laying off 148 workers at its Irvine headquarters, saying “closure permanent.”
The Wall Street Journal obtained a letter dated January 20, sent to staff at headquarters, saying Wet Seal had been unable to find a buyer or get a cash injection, forcing it to close down. “Unfortunately, the company was unable to obtain th…
Read the full article at: http://fortune.com/2017/01/26/wet-seal-liquidation/