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Wet Seal

The firm is counsel to the creditors' of this publicly traded retailer. Wet Seal specializes in fast fashion apparel, footwear, and accessories designed for teen girls and young women. Immediately prior to its filing for bankruptcy, Wet Seal had over 500 stores in retail locations throughout the country and over 6,500 employees. The debtors originally proposed a prenegotiated plan offered unsecured creditors with stock or a limited cash component option. Through the firm’s efforts, the debtors accepted an overbid to the plan from a third party that provides a materially enhanced guaranteed cash component to unsecured creditors.