Wet Seal to shutter all stores

Valley View Mall Roanoke
Wet Seal filed for bankruptcy two years ago.

Teen apparel retailer Wet Seal is closing all of its 171 stores in 42 states after it was unable to find a new buyer for the flailing company. The retailer has informed all employees at its Irvine, California, headquarters that operations will cease due to no further financing, according to a letter from vice president and general counsel Michelle Stocker. The company filed for bankruptcy two years ago and was bought out by Versa, which was still unable to save the struggling retailer. (UPI)