Wet Seal to shut down all stores

PENSACOLA, Fla. (WEAR) — Teen clothing store Wet Seal is shutting down nationwide.

The Wet Seal at Cordova Mall is still open. Destin Commons says their Wet Seal will be open through January 29th.

The company announced they're closing all 171 store and laying off its workers.

In a letter to employees, company officials say they were not able to raise enough funds or find a buyer keep stores in 42 states open.

Times are tough for American retailers, American Apparel, LLC. and Limited Stores Co. recently notified employees they would lose their bankruptcy filings.

Sear's and Macy's have also announced mass closures recently.