Bankrupt Wet Seal Seeks To Auction Off Name, Other IP

Law360, Wilmington (February 13, 2017, 4:30 PM EST) -- Struggling clothing retailer The Wet Seal LLC asked the Delaware bankruptcy court Friday for the OK to auction off its intellectual property, including its name and assets connected to its website, as the company holds going-out-of-business sales at all of its roughly 140 stores.

Wet Seal, which filed for Chapter 11 protection just 15 months after emerging from a prior court-supervised restructuring, said it is hoping to run the auction while its online shopping website is still operating, and pegged early March as the timeframe for when it would have to shut down those operations due to lack of funds....

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