Aeropostale sale wins court approval

A bankruptcy judge approved the sale of retailer Aeropostale Inc. to a group of landlords, liquidators and licensing company Authentic Brands Group.

The decision is expected to keep 229 stores open and save 7,000 of the retailer's 10,000 jobs.

The buyout, valued at $243.3 million, is by Authentic Brands, landlords Simon Property Group and General Growth Partners, and liquidators Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC.

Read more from The Wall Street Journal.