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.

The fashion accessories retailer filed for bankruptcy earlier this month and was beginning to roll out store closing sales.

After filing for bankruptcy for a second time, Claire’s announced on Aug. 20 that it would be selling most of its North American business.

Claire’s announced in a release Wednesday that it entered into an agreement to be purchased by an affiliate of Ames Watson, a private equity firm which will take over Claire’s operations across the U.S. The sale still must be approved by bankruptcy courts in U.S and Canada.

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.

The deal means that at least 795 of the iconic mall jewelry store chain's North American stores will remain open for now.

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Ames Watson leads group to buy the Claire's business and save between 795 to 950 stores in North America, while the remaining doors will be shuttered.