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The Wet Seal Estate Wins Ch. 11 Plan Confirmation

Law360, Wilmington (October 30, 2015, 4:14 PM EDT) -- 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.

During a hearing in Wilmington, U.S. Bankruptcy Judge Christopher S. Sontchi commended the professionals working on the case not only for running it in a way to preserved a good portion of the business, and the resultant jobs, with a bankruptcy sale to...
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