Poundland has avoided collapsing into administration after its turnaround plan was approved days before the chain was due to run out of money.
The budget retailer had asked the judge to approve a deal, saying it would have run out of cash without it by 7 September.
Poundland has around 14,700 staff and operates about 800 stores. It has previously announced plans to close 68 shops after it was sold to a subsidiary of a private equity firm for £1, putting about 1,000 jobs at risk.
The High Court heard on Tuesday that the turnaround plan would see a significant injection of cash into the company.
Tom Smith KC, for Poundland Limited, wrote that the retailer's financial position had "significantly deteriorated during the last two years" and that it had "performed poorly in a difficult retail and economic environment".
