Wet Seal: One of the 90's Retailers Preparing to Say Goodbye

wet seal

If you're familiar with one of our previous posts "Bye Bye Arden B., Hello Wet Seal Plus" then you know that Wet Seal has been making a lot of changes within the past year.  They closed all of the Arden B. stores and replaced them with the new Wet Seal Plus.  We received one of the first Wet Seal Plus stores here in St. Louis, and from all of the hype of unveiling the store with the brand new merchandise, I had high hopes that this store would be here for a while...welp I was wrong.  Just last week while my mom was at the mall she noticed Wet Seal looked like a chaotic dessert, everything was everywhere. To top it off  you could get anything that would fit in a bag for $10. So after doing some investigating as I do, I learned that Wet Seal is in jeopardy of declaring bankruptcy, and is currently working with lawyers in handling this process.  According to MarketWatch.com, Wet Seal will be closing 338 stores and will be laying off nearly 3,700 employees.  Once this is done only 173 stores will remain in the chain.  Wet Seal is also in trouble with its bond holders because the company missed a bond payment of $28.8 million dollars, causing them to be further in debt.  Looks like the fate of Wet Seal is fast coming.  Me personally it might be time to put this company to rest.  It was opened and structured around the 90's generation and we are in a new world of fashion that Wet Seal barely kept up with.  I want you guys to weigh in, do you think Wet Seal should keep fighting to stay afloat, or should they just close for good?

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