A Canadian court has approved a founder-led buyout of luxury fashion retailer Ssense, dismissing objections from a group of lenders who had sought to block the deal. The lenders had pushed for a liquidation process, arguing it would allow them to recover more money from the struggling company.

The buyout approval marks a significant victory for Ssense's founders, who will now regain full control of the company after restructuring efforts. The court's decision effectively ends the legal battle that had threatened to derail the transaction and potentially force the company into bankruptcy proceedings.

While specific financial terms of the buyout were not disclosed in the brief announcement, the court's ruling suggests confidence in the founder-led restructuring plan over the liquidation alternative proposed by creditors. The decision provides clarity for Ssense's operations and positions the company to move forward under its original ownership structure.