Liquidator Gordon Brothers wins auction for Wet Seal: Reuters
Liquidator Gordon Brothers Group won the auction this week for the intellectual property of The Wet Seal LLC with a bid of US$3 million, besting the US$1.5 million initial offer from Canadian retailer YM Inc, sources told Reuters. A U.S. bankruptcy court judge must still approve the sale, the sources said, asking not to be identified ahead of a public announcement. Versa Capital Management, the U.S. private equity owner of Wet Seal, bought the U.S. teen retailer out of its first bankruptcy in 2015.
2 March 2017•2 mins read
