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Hoffman Estates, IL--Fashion jewelry retailer, Claire's, said on Wednesday it would sell its North America business to private equity firm Ames Watson for an undisclosed amount, Reuters reports.

The retailer operating more than 2,300 stores across 17 countries in North America and Europe, disclosed $690 million in debt in U.S. bankruptcy court filings in Delaware earlier this month, marking its second bankruptcy protection filing since 2018.

"The sale of these stores and Claire's IP to Ames Watson will significantly benefit the Company's efforts to create value through its Restructuring Proceedings," the company reportedly said. The sale requires approval from the U.S. and Canadian courts.

Ames Watson is a permanent capital holding company generating more than $2 billion in revenue, according to its website. It acquires, transforms, and partners with middle-market companies to build long-term value.

For more information, read the Reuters story.