October 30, 2015
A Delaware bankruptcy judge agreed Friday to confirm the Chapter 11 plan for clothing retailer The Wet Seal Inc.'s estate, marking the final chapters of one of the few modern retail cases to include a going-concern transaction rather than liquidation in going-out-of-business sales.
September 11, 2015
A Delaware bankruptcy judge gave The Wet Seal Inc. estate the thumbs up Friday on the disclosure statement for its Chapter 11 plan, allowing it to solicit creditors on its strategy for divvying up proceeds from the April going-concern sale to a unit of Versa Capital Management LLC.
May 29, 2015
Oracle America Inc. on Thursday moved to protect its intellectual property and related licenses in Wet Seal Inc.'s bankruptcy, telling a Delaware federal judge that the retailer needs to provide more information about IP contracts that would be assumed by a unit of Versa Capital Management LLC that acquired the brand.
April 01, 2015
A Delaware bankruptcy judge on Wednesday signed off on The Wet Seal Inc.'s Section 363 sale to a unit of Versa Capital Management LLC, which intends to run the women's clothier as a going concern.
March 18, 2015
A Delaware bankruptcy judge on Wednesday blessed the Wet Seal Inc.'s new $20 million debtor-in-possession financing from a unit of Versa Capital Management LLC, which is providing the package as part of its deal to acquire the women's clothing chain.
March 13, 2015
Versa Capital Management LLC emerged victorious Friday in a duel between bankruptcy lenders for control of The Wet Seal Inc., topping a $25 million sale offer from B. Riley Financial Inc. and replacing the losing bidder's financing package with its own.
February 18, 2015
A Delaware bankruptcy judge on Wednesday blessed bidding procedures for women's clothier The Wet Seal Inc., giving potential suitors two weeks to top a proposed Chapter 11 restructuring plan sponsored by B. Riley Financial Inc. and setting up a potential auction.
February 12, 2015
The Wet Seal Inc. submitted a Chapter 11 restructuring plan on Wednesday, detailing a debt-for-equity swap that would see the women's clothier emerge from bankruptcy as a going concern.
February 04, 2015
Bankrupt women's apparel retailer The Wet Seal Inc. said Wednesday that its newly minted creditors committee was able to secure $5 million more in debtor-in-possession financing under better terms from the same lender and that the debtor would be open to a Section 363 sale of its assets.
January 20, 2015
A Delaware bankruptcy judge gave The Wet Seal Inc. interim approval Tuesday for its $20 million debtor-in-possession facility from B. Riley Financial Inc., allowing the retail chain to tap $1 million of the loan, over the objections of a private equity firm that claimed it was offering a better deal.