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Gordon Brothers and Hilco Global Lead Store Closing Sales at Remaining Wet Seal Locations

Feb 08, 2017

BOSTON, MA, (FEBRUARY 7, 2016) – The joint venture comprised of Boston-based Gordon Brothers and Chicago-based Hilco Global, announced that they have begun the store closure process for the remaining 137 Wet Seal stores and ecommerce website as part of Wet Seal’s bankruptcy proceedings. Sales, including all merchandise, fixtures and equipment,
will run while inventory lasts. Customers are encouraged to take this opportunity to receive incredible savings of 40-60% off the great selection of apparel that they have come to expect from Wet Seal.

Wet Seal, known for a surf-and-sun aesthetic that peaked with young consumers in 2002, hoped for a second life when it emerged as a private company with the aid of new ownership. Unfortunately, Wet Seal's decline continued and they were unable to obtain the necessary capital or identify a strategic partner resulting in a final bankruptcy filing on February 2, 2017.

A spokesman for the joint venture said, “Since 1962, Wet Seal has been a pioneer in fast fashion retailing offering trendy apparel designed for teen girls and young women of all sizes. We are offering major discounts on the most popular merchandise so customers have a final opportunity to purchase their favorite items. Deep discounts will make for a short sale. Consumers are encouraged to take advantage of this outstanding savings opportunity and to shop while the selection is best.”

Furniture, fixtures and equipment also available for sale.

About Gordon Brothers

Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with 25 offices across four continents.

About Hilco Merchant Resources, LLC

 Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer’s strategic initiatives.  Hilco Merchant Resources’ activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment.  Additionally, HMR now includes among its subsidiaries the nation’s premier fixture and equipment liquidation firm, Hilco Fixture Finders (www.hilcofixturefinders.com), as well as the popular online retail and daily deal e-commerce company, Deal Genius, LLC (www.dealgenius.com). 

Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global, one of the world’s leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.  Hilco Global operates twenty specialized business units offering services that include asset appraisal, retail and industrial inventory acquisition and disposition, real estate repositioning and renegotiation, strategic advisory and operational consulting and strategic capital equity investments.  For more information please visit: (www.hilcoglobal.com).

 

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