B. Riley Financial Inc. has proposed an interesting plan to take over Wet Seal Inc., offering to provide the bankrupt teen clothier with a $20 million debtor-in-possession (DIP) loan that would get the business through its restructuring process and, in the end, give B. Riley an 80 percent ownership stake. Wet Seal asked a Delaware bankruptcy court on Jan. 16 to approve the DIP deal.

Wet Seal, which sells inexpensive, trendy women’s clothes, is one of several teen retailers that have faced distress as the retail climate shifts away from mall shopping to e-commerce. Others, including Deb Stores, Delia’s and Body Central, are experiencing similar problems.

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