8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8–K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): January 7, 2005

THE WET SEAL, INC.
(Exact Name of Registrant as Specified in Charter)

Delaware (State or Other Jurisdiction of         Incorporation)	0-18632 (Commission File Number)	33-0415940 (IRS Employer Identification No.)
26972 Burbank   Foothill Ranch, California (Address of Principal Executive               Offices)		92610                   (Zip Code)

Registrant's telephone number, including area code:                   (949) 583-9029

N/A
——————————————————————————
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[]     Written communications pursuant’ to Rule 425 under the Securities Act (17 CFR 230.425)

[]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[]     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 14d-2(b))

[]     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.     Other Events.

        On January 7, 2005, The Wet Seal, Inc. (the “Company”) issued a press release to announce that it is in discussions with the lenders that provided a $10,000,000 bridge loan to the Company on November 9, 2004, to extend the maturity of the interim facility.

        Under the terms being discussed, the initial maturity date of the facility, as extended, will be March 31, 2005, and the maturity date will be further extended automatically on a month to month basis until notice is received from the lenders. If the bridge facility is not repaid by July 31, 2005, the base interest rate will increase from 25% to 30%. Certain of the other terms relating to the extension remain subject to further negotiation. The Company will retain the right to prepay the bridge facility at any time.

        There is no assurance that these discussions will result in an extension of the bridge facility.

        The purpose of the extension of the bridge facility is to allow the Company to have additional capital available after the closing of its convertible note and warrant financing transaction. It is anticipated that the closing of this transaction will take place next week, assuming stockholder approval is obtained at the special stockholder meeting to be held on Monday, January 10, 2005.

        A copy of the Company’s press release appears as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

Item 9.01.     Financial Statements and Exhibits.

(a)     Financial Statements of Business Acquired.

Not Applicable.

(b)     Pro Forma Financial Information.

Not Applicable.

(c)     Exhibits.

99.1 Press release, dated January 7, 2005, issued by the Company.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	THE WET SEAL, INC. (Registrant)
Date: January 10, 2005	By: /s/ DOUGLAS C. FELDERMAN
	Name: Douglas C. Felderman
	Title: Executive Vice President & Chief                   Financial Officer

EXHIBIT INDEX

EXHIBIT NUMBER	DESCRIPTION
99.1	Press release, dated January 7, 2005, issued by the Company.

EX-99

Contact:
Helen Rotherham
VP, IR and Communications
(949) 699-4804

THE WET SEAL, INC. ANNOUNCES DISCUSSIONS TO EXTEND BRIDGE FACILITY

        FOOTHILL RANCH, CA, January 7, 2005 — Specialty retailer The Wet Seal, Inc. (Nasdaq: WTSLA) (the “Company”) today announced that it is in discussions with the lenders that provided a $10,000,000 bridge loan to the Company on November 9, 2004, to extend the maturity of the interim facility.

Under the terms being discussed, the initial maturity date of the facility, as extended, will be March 31, 2005, and the maturity date will be further extended automatically on a month to month basis until notice is received from the lenders. If the bridge facility is not repaid by July 31, 2005, the base interest rate will increase from 25% to 30%. Certain of the other terms relating to the extension remain subject to further negotiation. The Company will retain the right to prepay the bridge facility at any time.

There is no assurance that these discussions will result in an extension of the bridge facility.

The purpose of the extension of the bridge facility is to allow the Company to have additional capital available after the closing of its convertible note and warrant financing transaction. It is anticipated that the closing of this transaction will take place next week, assuming stockholder approval is obtained at the special stockholder meeting to be held on Monday, January 10, 2005.

Headquartered in Foothill Ranch, California, The Wet Seal, Inc. is a leading specialty retailer of fashionable and contemporary apparel and accessory items. The company currently operates a total of 559 stores in 47 states, the District of Columbia and Puerto Rico, including 463 Wet Seal stores and 96 Arden B. stores. The company’s products can also be purchased online at www.wetseal.com or www.ardenb.com. For more company information, visit www.wetsealinc.com.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: This news release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements that relate to the Company’s opening and closing of stores, profitability and growth, demand for its products or any other statements that relate to the intent, belief, plans or expectations of the Company or its management. All forward-looking statements made by the Company involve material risks and uncertainties and are subject to change based on factors beyond the Company’s control. Accordingly, the Company’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, but are not limited to, those described in the Company’s filings with the Securities and Exchange Commission. This news release contains results reflecting partial year data and non-fiscal data that may not be indicative of results for similar future periods or for the full year. The Company will not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.

SOURCE: The Wet Seal, Inc.