The teenager focused retailer Aeropostale Inc has won court approval for a 160 million US dollars loan to support its restructuring process. This turnaround in the course of action for Aeropostale occurs after stakeholders who had opposed to the restructuring process plan.

"We are pleased that the court has approved our financing”, stated CEO Julian Geiger, adding: "We are looking forward to emerging from this process as a leaner, more efficient business and firmly believe that we will be well-positioned to compete and succeed in today's retail environment."

Aeropostale is a specialty clothing retailer targeting the teenagers and young adult market. The retail chain has been experiencing issues in the last few years as mall buyers shift to shopping online. The company filed for bankruptcy on the 4th of May and at the time announced the plan to close hundreds of stores.