The company is currently undergoing Chapter 11 bankruptcy proceedings initiated on March 2, 2026. A Purchase Agreement has been established with Jewelry Design Partners LLC for the sale of company assets for $1,500,000. The Bankruptcy Court approved the buyer as the stalking horse bidder on April 29, 2026. The final sale hearing is scheduled for June 22, 2026. Executive Chair Michael Levin's appointment has been transitioned to a month-to-month arrangement at $7,500 per month.