J.Crew to emerge from bankruptcy after court approves restructuring plans

// J.Crew to emerge from bankruptcy in early September
// A Virginia federal court approved of the retailer’s restructuring plansJ.Crew has said it expects to come out of bankruptcy by early September after a US court approved of its restructuring plan.
The plan was given the green light by a Virginia federal court, which will equal over $1.6 billion of secured debt, and provide for $400 million in asset-based loan as well as $400 million of fresh financial aid.
The US fashion retailer&nbs