Wet Seal to Buy 24 Episode Stores
<i> Dow Jones</i>
Clothing retailer Wet Seal Inc. said it agreed to purchase 24 Episode stores from Mothers Work, a Philadelphia-based retailer of women’s maternity clothing, for $2.8 million.
Irvine-based Wet Seal said the majority of the Episode stores, which are in 13 states, will be converted to Arden B stores, with the remainder being switched to Wet Seal, Contempo Casuals and Limbo Lounge stores.
Mothers Work said it plans to close six other Episode stores that are not part of the Wet Seal transaction. Mothers Work said it expects to record a fourth-quarter charge of $13.5 million for costs related to the closures.
