By Dietrich Knauth and Mrinmay Dey (Reuters) -Jewelry retailer Claire's said on Wednesday it would sell its North American business to private equity firm Ames Watson for $104 million in cash, in a deal that will keep at least 795 retail locations in business.

Claire's, the popular accessory retailer, has filed for Chapter 11 bankruptcy. Find out why the company made the move and what it means for its stores.