Former Wet Seal has April operating loss of $1.14 million; sales down

By Kali Hays

New York, May 29 – Seal123, Inc., formerly Wet Seal, Inc., reported an operating loss of $1.14 million for April on sales of $4.9 million, according to an operating report filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

For March, the company reported an operating loss of $1 million and net sales of $5.69 million.

Wet Seal’s net loss for April was $1.14 million, up slightly from $1.01 million in March.

The company also held $9.3 million in cash and cash equivalents at the end of April, increasing from $8 million at the end of March.

Wet Seal, a Foothill Ranch, Calif.-based clothing retailer, filed for bankruptcy on Jan. 15 under Chapter 11 case number 15-10081.

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