Teen retailer and shopping mall staple Wet Seal has announced they’re closing their doors for good. According to a letter obtained by WWD, employees working in the brand’s California headquarters were notified that the company was permanently closing down after it was “unable to obtain the necessary capital or identify a strategic partner, and was then recently informed that it will no further financing for its operations.”
This was almost expected, however, as the once-favorite shopping destination took a huge hit with recent massive dips in mall foot traffic. Back in January 2015, the retailer announce they were closing 338 of their then 511 stores, only to file for bankruptcy protection shortly thereafter.
We get it. Being that online shopping is easily accessible, there’s no doubt that trips to the mall are not as common of an activity as they once were. But it’s still sad to see Wet Seal finally close its doors. While we haven't personally shopped there in some time, we once found our favorite tank top in five different colors and grabbed them along with a few pairs of chandelier earrings—and it all fit perfectly into our 14-year-old budgets. We’ll be forever grateful.
Not surprisingly, Wet Seal is not the only mall retailer to suffer right now. Earlier this month, The Limited shuttered all of its 250 stores, while Sears and Macy's have announced that store closures are imminent this year.
It’s only a matter of time before our other nostalgic favorites begin to close down. Hot Topic next? We sure hope not.