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Embattled teen retailer Wet Seal Inc. has defaulted on $27 million in senior convertible notes and related costs.

In a regulatory filing, Wet Seal said the total amount due is equal to $28.8 million, plus costs of collection, attorneys’ fees and disbursements.

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.

They are disruptors, dreamers, givers, influencers and power players. The National Retail Federation Foundation has announced its inaugural list of the 25 people shaping retail’s future, and many of the names might be unfamiliar.

Just six months after being named chairman and CEO of Target, Brian Cornell is pulling the plug on the retailer’s 133 unit Canadian operation and will incur a $5.4 billion pre-tax loss in the fourth quarter to do so.

Target said it plans to discontinue operating stores in Canada through its indirect wholly-owned subsidiary, Target Canada Co. and that it had filed an application for protection under the Companies’ Creditors Arrangement Act (the “CCAA”) with the Ontario Superior Court of Justice in Toronto.

By Ryan Gilchrist

Walmart, Kohl’s, Macy’s and select other retailers already rank among the nation’s leading producers of solar energy, with huge investments that are growing every year. But the industry’s strong position in renewable energy still has room for improvement — literally — with millions of unutilized roof space, prime real estate for solar panels and wind turbines.

The nation’s newest mall in Sarasota, Fla., introduced shoppers to a new app with interesting navigation and personalization capabilities. Now the trick is driving downloads and usage.

Global retail shrinkage improved by 4.8% last year, thanks to strengthened loss prevention efforts and general economic improvements

Former top Sears executive Mark Cohen is at it again with harsh words recently about Sears holiday performance and long term viability.

Cohen, former chairman and CEO of Sears Canada turned teacher at Columbia’s business school, appeared on CNBC to share his views on a holiday season with top line growth that appears to have exceeded earlier forecasts.

“Sears again is going to be an enormous loser,” Cohen said.