UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

The Wet Seal, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

961840105

                                 (CUSIP Number)                                

December 31, 2004

(Date of Event Which Requires Filing of This Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

x Rule 13d-1(c)

¨ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 961840105 13G Page 2 of 7

1.	NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON             SENECA CAPITAL ADVISORS, LLC
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A)  ¨ (B)  x
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION             DELAWARE

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:   5.    SOLE VOTING POWER                 0   6.    SHARED VOTING POWER                 0   7.    SOLE DISPOSITIVE POWER                 0   8.    SHARED DISPOSITIVE POWER                 0

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             0
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*	¨
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0%
12.	TYPE OF REPORTING PERSON*             OO - LIMITED LIABILITY COMPANY

CUSIP No. 961840105 13G Page 3 of 7

1.	NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON             SENECA CAPITAL INVESTMENTS, LLC
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A)  ¨ (B)  x
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION             DELAWARE

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:   5.    SOLE VOTING POWER                 0   6.    SHARED VOTING POWER                 0   7.    SOLE DISPOSITIVE POWER                 0   8.    SHARED DISPOSITIVE POWER                 0

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             0
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*	¨
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0%
12.	TYPE OF REPORTING PERSON             OO - LIMITED LIABILITY COMPANY

CUSIP No. 961840105 13G Page 4 of 7

1.	NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON             DOUGLAS A. HIRSCH
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A)  ¨ (B)  x
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION             USA

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:   5.    SOLE VOTING POWER                 0   6.    SHARED VOTING POWER                 0   7.    SOLE DISPOSITIVE POWER                 0   8.    SHARED DISPOSITIVE POWER                 0

9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON             0
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*	¨
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)             0%
12.	TYPE OF REPORTING PERSON             IN

CUSIP No. 961840105 13G Page 5 of 7

ITEM 1.	(a)	Name of Issuer: The Wet Seal, Inc.
	(b)	Address of Issuer’s Principal Executive Offices: 26972 Burbank, Foothill Ranch, CA 92610
ITEM 2.	(a)	Name of Persons Filing:
	(b)	Address or principal business office or, if none, residence:
	(c)	Citizenship: Seneca Capital Advisors, LLC 950 Third Avenue, 29th Floor New York, NY 10022 (Delaware limited liability partnership) Seneca Capital Investments, LLC 950 Third Avenue, 29th Floor New York, NY 10022 (Delaware limited liability partnership) Douglas A. Hirsch c/o Seneca Capital 950 Third Avenue, 29th Floor New York, NY 10022 (United States Citizen)
	(d)	Title of Class of Securities: Class A Common Stock, par value $0.10 per share
	(e)	CUSIP Number: 961840105
ITEM 3.	IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B), CHECK WHETHER THE PERSON FILING IS A:
	(a)	¨	Broker or Dealer registered under Section 15 of the Act
	(b)	¨	Bank as defined in section 3(a)(6) of the Act
	(c)	¨	Insurance Company as defined in section 3(a)(19) of the Act
	(d)	¨	Investment Company registered under section 8 of the Investment Company Act of 1940
	(e)	¨	Investment Adviser registered under section 203 of the Investment Advisers Act or under the laws of any State
	(f)	¨	Employee Benefit Plan, Pension fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)
	(g)	¨	A Parent Holding Company or control person, in accordance with Section 240.13d-1(b)(ii)(G)(Note: See Item 7)
	(h)	¨	A Savings Association as defined in Section 3(b) of the Federal Deposit Insurance Act
	(i)	¨	A Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940
	(j)	¨	Group, in accordance with Section 240.13d-1(b)(1)(ii)(J)

CUSIP No. 961840105 13G Page 6 of 7

ITEM 4.	OWNERSHIP
	Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
	SENECA CAPITAL ADVISORS, LLC
	(a)	Amount Beneficially Owned: 0
	(b)	Percent of Class: 0%
	(c)	Number of shares as to which such person has:
		(i)	sole power to vote or to direct the vote: 0
		(ii)	shared power to vote or to direct the vote: 0
		(iii)	sole power to dispose or to direct the disposition of: 0
		(iv)	shared power to dispose or to direct the disposition of: 0
	SENECA CAPITAL INVESTMENTS LLC
	(a)	Amount Beneficially Owned: 0
	(b)	Percent of Class: 0%
	(c)	Number of shares as to which such person has:
		(i)	sole power to vote or to direct the vote: 0
		(ii)	shared power to vote or to direct the vote: 0
		(iii)	sole power to dispose or to direct the disposition of: 0
		(iv)	shared power to dispose or to direct the disposition of: 0
	DOUGLAS A. HIRSCH
	(a)	Amount Beneficially Owned: 0
	(b)	Percent of Class: 0%
	(c)	Number of shares as to which such person has:
		(i)	sole power to vote or to direct the vote: 0
		(ii)	shared power to vote or to direct the vote: 0
		(iii)	sole power to dispose or to direct the disposition of: 0
		(iv)	shared power to dispose or to direct the disposition of: 0
ITEM 5.	OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
	If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following x.
ITEM 6	OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employees benefit plan, pension fund or endowment fund is not required.
	NOT APPLICABLE.
ITEM 7.	IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
	If a parent holding company or control person has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
	NOT APPLICABLE.
ITEM 8.	IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
	If a group has filed this schedule pursuant to Rule 240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to Rule 240.13d-1(c) or Rule 240.13d-1(d), attach an exhibit stating the identity of each member of the group.
	NOT APPLICABLE.
ITEM 9.	NOTICE OF DISSOLUTION OF GROUP
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security report on will be filed, if required, by members of the group, in their individual capacity.
	NOT APPLICABLE.
ITEM 10.	CERTIFICATION
	By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of such securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

CUSIP No. 961840105 13G Page 7 of 7

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct.

Date: February 14, 2005

SENECA CAPITAL ADVISORS, LLC
By:	/s/ Douglas A. Hirsch
	Douglas A. Hirsch, Its Managing Member
SENECA CAPITAL INVESTMENTS, LLC.
By:	/s/ Douglas A. Hirsch
	Douglas A. Hirsch, Its Managing Member
DOUGLAS A. HIRSCH
By:	/s/ Douglas A. Hirsch
	Douglas A. Hirsch, Individually