Wet Seal announced it is closing all of its stores and laying off its workers.
In a letter to employees, company officials say they were not able to raise enough funds or find a buyer to stay open.
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The chain has 171 stores in 42 states.
Times are tough for American retailers.
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American Apparel and Limited Stores Co. recently notified employees they would lose their jobs in connection with bankruptcy filings.
Sears and Macy's have also announced mass closures this year.
KTRK