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The company has hired Klee, Tuchin, Bogdanoff &
Stern LLP, according to the report. (http://on.wsj.com/1xWEmNK)
Citing one of the sources, the newspaper reported that a
bankruptcy filing could be made next week.
Wet Seal and Klee, Tuchin, Bogdanoff & Stern LLP were not
immediately available for comment after regular business hours.
Wet Seal said on Wednesday that it laid off about 3,700 full-
and part-time employees as it closed 338 stores.
Wet Seal sells apparel and accessories for teen girls and young
women through retail stores and an e-commerce website.
Several teen apparel retailers have been losing market share.
Delia*s warned in December that it was liquidating assets and
would file for Chapter 11 bankruptcy protection "in the very
near term."
Teen and young women's fashion chain Deb Shops, which is
controlled by private equity firm Cerberus Capital
Management[CBS.UL], in December filed for its second bankruptcy
in less than four years and said it would seek a buyer.
(The story was refiled to correct paragraph 7 to say Delia*s
warned in December, not on Friday. It also correct paragraph 8
to say Deb Shops filed for bankruptcy in December, not on
Thursday)
(Reporting By Sudarshan Varadhan)
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