Claire’s sells most of its North American business after filing bankruptcy

(CNN) – A popular global jewelry retailer has found a buyer after filing for bankruptcy for a second time.

On Wednesday, Claire’s announced it will be selling most of its business in North America to private equity firm Ames Watson.

The fashion jewelry retailer said the sale is aimed at maximizing the value of the business.

Eighteen Claire’s stores in the U.S. will close no later than Sept. 7, but the fates of more than a thousand other stores that were slated to close are now uncertain.

Claire’s will seek approval for the sale at a hearing on Aug. 21 in Delaware.