Wet Seal Is Outbid for Rampage Stores

Wet Seal Inc. said Wednesday that it was outbid in its attempt to purchase Los Angeles-based young women’s retailer Rampage Retailing Inc., which is in bankruptcy proceedings. Wet Seal did not reveal the name of the successful bidder for Rampage’s 18 stores. The Irvine retailer, which first made an offer for Rampage in late July, increased its bid several times, chief executive Kathy Bronstein said in a prepared statement, but was unwilling to go higher. This is Wet Seal’s second unsuccessful effort to acquire another chain. Late last year, it bid for 500-store County Seat, which also was in bankruptcy. Wet Seal operates 369 stores in 34 states and Puerto Rico.