Greenberg Traurig shareholder Nancy Peterman was part of the team that advised Mador Lending LLC, an affiliate of Versa Capital Management, in its acquisition of The Wet Seal Inc., now known as The Wet Seal LLC. Mador acquired substantially all assets and assumed certain liabilities of the old Wet Seal. The new Wet Seal will continue to operate approximately 170 of the original 500 retail outlets with plans to expand the online platform, according to the firm. The sale was approved by the U.S. Bankruptcy Court for the District of Delaware on April 1.
Versa is a private equity investment firm focused on investments in middle-market companies. California-based Wet Seal is a retailer focused on fast fashion for young women and teens with a presence in mall stores and online.