Teen retailer Wet Seal struggled to keep up in the world of fast fashion.

With new styles and trends coming and going so quickly, retailers need to be able to get runway looks into their stores quickly and cheaply. A pace and price point, retail experts said Wet Seal (WTSL) couldn't keep up with.

In early January, the company announced it was closing 338 stores, which resulted in the termination of 3,695 full and part-time employees.

The company filed for bankruptcy protection on Jan.16.