The Connecticut-based company plans to close a number of stores as part of a deal with Sports Direct. The UK-based sporting goods retailer is analyzing the performance of Eastern's stores to decide which to acquire.
Liquidator Gordon Brothers Group won the auction on Thursday for the intellectual property of the Wet Seal LLC with a bid of $3 million, besting the $1.5 million offer from Canadian retailer YM Inc, according to sources.
Toronto-based retail operator YM Inc is said to be preparing an offer for the intellectual property of The Wet Seal, as the 55-year-old U.S. teen retailer grapples with its second bankruptcy in the past two years.
British sporting goods company Sports Direct International is in talks to bid for Eastern Outfitters, the parent of U.S.discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, sources have revealed.
American Apparel has resumed talks with at least two potential bidders for U.S. teen clothing retailer, after bankruptcy sale negotiations with brand licensor Authentic Brands Group stalled earlier this week.
Bankrupt U.S. teen retailer Aeropostale Inc received bids last week for its business from private equity firm Sycamore Partners, as well as liquidators, firms that wind down businesses, according to people familiar wi...