On February 6, 2015, a motion for authority to sell assets of the estates pursuant to section 363 of the Bankruptcy Code was filed in the bankruptcy case of The Wet Seal, Inc. and its affiliates.
The filing was assigned docket number 259 and is described on the court’s official docket as follows:
Motion to Approve – Debtors Motion for Entry of an Order Approving Certain Bid Procedures Governing the Submission of Competing Proposals to (I)(A) Sponsor of a Plan of Reorganization for the Debtors or (B) Acquire All or Substantially All of the Debtors Assets Pursuant to Section 363 of the Bankruptcy Code and (II) Provide Debtor-in-Possession Financing Filed by The Wet Seal, Inc.. Hearing scheduled for 2/18/2015 at 01:00 PM at US Bankruptcy Court, 824 Market St., 5th Fl., Courtroom #6, Wilmington, Delaware. Objections due by 2/13/2015. (Attachments: # (1) Notice # (2) Exhibit A) (Buchanan, Travis)
The Wet Seal, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on January 15, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 15-10081. The bankruptcy case is currently assigned to United States Bankruptcy Judge Christopher Sontchi. The law firm of Klee, Tuchin, Bogdanoff & Stern LLP is acting as lead bankruptcy counsel to The Wet Seal, Inc. in the bankruptcy case.