The newly formed Wet Seal Inc. creditors’ committee negotiated an increase in the clothing chain’s sale price and changes in financing for the company’s bankruptcy reorganization, Bloomberg News reported yesterday. Wet Seal, a mall-based retailer catering to women 13 to 24, worked out a deal before its Jan. 15 bankruptcy filing that gives lender B. Riley Financial Inc. 80 percent of the stock in exchange for a $20 million investment. The remaining 20 percent was earmarked for unsecured creditors. The committee, formed Jan. 30, persuaded Riley, the parent of liquidator Great American Group LLC, to raise the purchase price to $25 million.
