Jewelry chain Zale Corp has another bidder for their struggling operation. Centerbridge Partners has joined the bidding for a stake in the largest jewelry store operator in North America.

Zale stock prices have dropped from nearly $31 per share in 2008 to just $3.42 per share today. Announcement of the potential investors seems to have helped share prices slightly.

In an effort to recover Zale Corp has also hired turn around firm Peter J. Solomon to find investors.