Versa Capital Management LLC will be acquiring the business of apparel retailer The Wet Seal. No financial terms were disclosed. Versa won a bid to buy Wet Seal in an bankruptcy auction. Klee, Tuchin, Bogdanoff & Stern LLP, Paul Hastings LLP and Houlihan Lokey Capital are advising Wet Seal while Klehr Harrison Harvey Branzburg LLP and KPMG LLP are advising Versa. Wet Seal filed for Chapter 11 bankruptcy in January.