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Article: Wet Seal makes bid for 508 bankrupt County Seat Stores.
- Article from:
- WWD
- Article date:
- December 12, 1996
- Author:
CopyrightCOPYRIGHT 1996 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Wet Seal Inc. pulled off one neat trick bringing Contempo Casuals back to profitability in about a year. Now it's hoping to do another, this time with County Seat Stores Inc.
Wet Seal said Wednesday that it made a proposal to buy County Seat, which has been in bankruptcy proceedings since Oct. 17. The acquisition would lift Wet Seal's store count to about 900 and establish it as the dominant mall-based retailer of junior apparel.
The terms of the proposal were not disclosed. The offer was unsolicited, according to sources. County Seat officials could not be reached for comment Wednesday.
The offer apparently was not expected at County Seat. ...