The year 2016 proved to be one of the worst for our favorite suburban destination, the mall. Aeropostale filed for bankruptcy, Macy's revealed it will shutter 100 locations, and even Ralph Lauren announced it will close 50 stores. Sadly, any hope for a silver lining seems to have been dashed for 2017. Teen retailer Wet Seal recently revealed its plans to shut down its remaining stores across the U.S.
In a letter dated January 20, the mall stalwart notified employees in the company's Irvine, California headquarters that the office was permanently shutting down and laying off its workers, according to The Wall Street Journal. Wet Seal currently has 148 employees in its headquarters, according to a report filed to the California Employment Development Department, and lists 171 locations in 42 states on its web site. We've reached out to Wet Seal for comment and will update this post accordingly.
Wet Seal previously filed for bankruptcy in January 2015, and shortly after, announced it will close 338 stores. Private-equity firm Versa Capital Management later bought the company, and at the time, promised to keep at least 140 stores open. But the retailer continued to struggle to compete against the lure of e-commerce and the rise of fast-fashion labels like Zara and H&M.
Unfortunately, the company is just one of the many that has taken a hit this month. Teens and adults alike mourned the loss of American Apparel, which recently announced it would be shuttering all of its stores this year, while The Limited made headlines when it revealed it will close 250 of its remaining locations (though the brand would live on through e-commerce).
Will there be any stores left at the mall by the end of this year? The future looks bleak. But for now, we recommend that you head to the nearest Wet Seal location and stock up on all the affordable finds that will soon be gone.
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