Gordon Brothers, the 114-year-old global advisory, restructuring, and investment firm, acquired the Wet Seal brand.
“Despite the increasing challenges facing teen retailers, we at Gordon Brothers strongly believe in the long-term viability of the category,” said Ramez Toubassy, President, Brands. “Our plan for Wet Seal is to rebuild and reposition the brand and develop a unique new business model to best position it for future success.”