Wet Seal Inc., the clothing chain that has said there is doubt it can continue operating, is closing about two-thirds of its stores and cutting almost 3,700 jobs after failing to win concessions from landlords.

The news comes as Mergers & Acquisitions predicts more retailers are going to face distress related to their cumbersome real estate portfolios in 2015. For additional information, see More Retailers Will Face Real Estate Distress and Retailers Reconsider Real Estate.

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