Claire’s sells most of its North American business to private equity firm Ames Watson after declaring bankruptcy. Financial details were not disclosed. Claire’s will pause the liquidation process at most stores, while continuing at some North American locations. CEO Chris Cramer aims to maximize the company’s value for stakeholders. Ames Watson, with over $2 billion in revenue, focuses on transforming companies. Claire’s filed for bankruptcy due to high debt and competition, facing tariff impacts. Claire’s last filed for bankruptcy in 2018, undergoing restructuring to eliminate debt and remain operational.

Read more at CNBC: Bankrupt Claire’s sells most of its North American business