On April 24, 2021, New York-based beachwear retailer L&L Wings, Inc., which operates 26 stores in the Carolinas, Florida, Texas and California, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 21-10795). Stemming from a trademark dispute with a former employee, the company filed for bankruptcy to appeal and/or resolve a judgment entered against it for $16 million in the U.S. District Court for the Eastern District of North Carolina. If the judgment were enforced and executed upon, it would lead to the likely cessation of the Debtor’s business and forced liquidation of its assets. The Debtor reports $10 million to $50 million in assets and $50 million to $100 million in liabilities.