Wet Seal seeks bids for intellectual property assets; auction March 2

By Caroline Salls

Pittsburgh, Feb. 10 – The Wet Seal, LLC is seeking bankruptcy court approval to sell some of its intellectual property assets.

According to a motion filed Friday with the U.S. Bankruptcy Court for the District of Delaware, the company’s intellectual property assets include trademarks, domain names, customer files and related data, including, the digital assets associated with Wet Seal’s e-commerce website wetseal.com.

Bids are due by 5 p.m. ET on Feb. 28.

If one or more bids are received, an auction will be held on March 2.

The sale hearing is scheduled for March 3.

Wet Seal, a Foothill Ranch, Calif., clothing retailer, filed bankruptcy on Feb. 2. The Chapter 11 case number is 17-10229.

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