Per the purchase agreement, Claire's has halted its liquidation process at a significant amount of stores, but the process will continue for the rest of the stores in North America. The sale is still subject to approval by the Courts in the U.S. and Canada, and other customary closing conditions. "

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.