2TG LLC, which operates as The True Gem, has filed for Chapter 11 bankruptcy. The Dallas-based jewelry retailer reported approximately $354,858 in assets and more than $2.4 million in liabilities in its petition. Its reported gross revenue also declined from about $7.2 million in 2024 to $5.38 million in 2025.
Note: Chapter 11 allows businesses to reorganize their debts while continuing operations under court supervision. A filing does not necessarily mean that a business is closing. Readers are encouraged to contact the business directly for more information.
2TG LLC Seeks Chapter 11 Protection
PACER records show that the company submitted its petition on August 31, 2026. The records classify 2TG LLC as a small business debtor, adding that it decided to proceed using a Chapter 11, Subchapter V filing.
Subchapter V provides a streamlined Chapter 11 process for qualifying small business debtors. The petition was signed by Andy Ramirez on behalf of 2TG LLC. Attorney Robert C. Lane of The Lane Law Firm is representing the company in the bankruptcy proceedings.
Highlights from the Petition
Court records include a list of the creditors with the largest unsecured claims. These claims are tied to government-backed loans, tax obligations, vendor payments, business financing, equipment financing, and other creditor claims.
Some creditors named on the list are the U.S. Small Business Administration, Texas Comptroller, Dallas County Tax Assessor, Shopify Capital, Georgia Department of Revenue, Texas Workforce Commission, Nivoda, WebBank, and JPMorgan Chase Bank.
The company also submitted a statement of financial affairs, which showed the changes in its gross revenue between 2024 and 2026. According to this document, the company’s gross revenue in 2024 was around $7.2 million, which reduced to $5.38 million in 2025. Through the August 31 filing date, the company reported approximately $2.3 million in gross revenue.
A summary of the Chapter 11 petition is provided here:
- Filing Date: August 31, 2026
- Court and Jurisdiction: U.S. Bankruptcy Court for the Northern District of Texas
- Type of Filing: Active, Voluntary Petition
- Chapter: 11, Subchapter V
- Case Number: 26-34009
- Estimated Assets: Between $100,001 and $500,000
- Estimated Liabilities: Between $1,000,001 and $10 million
- Estimated Creditors: 1-49
About the Company
The True Gem operates as a jewelry retailer specializing in engagement rings, wedding bands, and lifestyle jewelry. The company focuses on lab-grown diamonds, moissanite, and responsibly sourced materials. It offers both ready-made and custom jewelry, as well as loose stones, and provides virtual and in-studio consultations.
The company’s offerings center around ethical and sustainable jewelry practices, including individually crafted pieces and responsible sourcing of metals, diamonds, gemstones, and moissanite. The product range includes rings, bracelets, necklaces, and other jewelry.
The filing does not indicate that The True Gem is closing, and the Chapter 11 case will proceed under the supervision of the U.S. Bankruptcy Court for the Northern District of Texas.
