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Wet Seal defaults on $29 million
Foothill Ranch, Calif. – Teen retailer Wet Seal Inc. has defaulted on a total of $28.8 million in senior convertible notes and related costs. In a regulatory filing, the struggling retailer said it received notice of default on $27 million in notes from creditor Hudson Bay Master Fund Ltd., plus costs including attorneys’ fees and disbursements.
Wet Seal has reached a two-week forbearance agreement with the fund, giving it until Jan. 12 to pay off the debt.
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Mid-America names principals, senior VPs
Oakbrook Terrace, Illinois - Mid-America Real Estate Corporation recently announced the promotions of two employees to Principals and two employees to Senior VPs. Joe Girardi is a member of Mid-America’s Shopping Center Investment Sales team, and has been promoted to a Principal of Mid-America Real Estate Corporation. He has been with Mid-America since 2003, and has been directly involved in the completion of over $2 billion of retail investment sale transactions.

