On the record · Other
Wet Seal
Filed two bankruptcies. Versa Capital acquired 173 stores for $17.5M after first bankruptcy but failed to revive. All stores closed.
Also known as The Wet Seal
Research depth
Outcomes researched
Reviewed operating findings or a classified operating outcome are available.
Record updated Sept. 4, 2026
Current ownership
Current owner not established
This record does not identify a current owner. That absence is a gap in the record, not a conclusion about ownership.
1 ownership record has an unresolved current/former status.
Ownership and transaction history
Chronology from recorded ownership periods, transactions and reviewed outcome events. Event order does not imply causation.
Feb. 1, 2017
Operations ceased
Operating outcome
Oct. 1, 2017
Revival or successor activity recorded
Operating outcome
Date not recorded
What happened under and after ownership
Operating outcome
No longer meaningfully operating
Filed a second Chapter 11 in February 2017 after failing to find new capital or a buyer, and closed all 137 remaining stores and its e-commerce site.
Gordon Brothers bought the brand at auction for $3 million and relaunched it as an online-only fast-fashion retailer in October 2017, releasing new styles weekly through at least 2018.
That relaunch went dormant by the early 2020s; the live thewetseal.com today states it is an unrelated company, not affiliated with the original brand.
- Founded
- 1962
- Sponsor at closure
- Versa Capital Management
- East Idaho News · 2017 · all stores and e-commerce site closing
- PR Newswire (Gordon Brothers, company primary) · Gordon Brothers acquired the brand and IP out of bankruptcy for $3 million
- California Apparel News · 2018 · online-only relaunch in October 2017, weekly new styles, active through 2018
- The Budget Fashionista · social media dormant since 2021, brief 2022 website flare-up with no actual sales, current thewetseal.com states no affiliation with the original brand
- Wikipedia · founded 1962 in Newport Beach, California by Lorne Huycke; peak of 540 stores (no reliable peak employee figure given)
- Retail Dive · Versa Capital Management bought Wet Seal out of its first (2015) bankruptcy
- Retail Dive · Wet Seal, still under Versa Capital's ownership, filed its second Chapter 11 in February 2017 after Versa declined further financing, leading to full closure
What we do not know
These are gaps in the public record, not findings about the organization.
- No current public ownership assessment has been published.
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