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04

Aeropostale Clears Early Hurdle by Securing Bankruptcy Loan

By Tony Seruga

Sycamore Partners unit opposes loan, wants chain liquidated
Retailer seeks probe of Sycamore, saying it forced bankruptcy

Teen clothing chain Aeropostale Inc. overcame the first challenge to its bankruptcy reorganization plans, securing $100 million in interim financing over the objection of its main lender.

U.S. Bankruptcy Judge Sean Lane in Manhattan Wednesday approved the company’s request to draw from a $160 million debtor-in-possession financing package provided by Crystal Financial LLC. ..

Aeropostale Clears Early Hurdle by Securing Bankruptcy Loan

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