# CHARLES & COLVARD LTD — bankruptcy/chapter_11 [terminated]
Source: SEC API (secapi.ai) · situation sit_af72ddfcd7fca278c92b · retrieved 2026-08-11T15:59:12.893Z

## Overview
Charles & Colvard, Ltd. is a jewelry company that manufactures and sells jewelry products.

On June 22, 2026, Charles & Colvard, Ltd. held a bankruptcy auction of its assets pursuant to Bankruptcy Court-approved bidding procedures. AJS Creations, Inc. (AJS) was designated the successful bidder, and the Company entered into an Overbid Purchase Agreement with AJS for the acquisition of specified assets and assumption of certain liabilities for cash consideration of $2,700,000. The Bankruptcy Court approved the AJS Transaction on July 1, 2026, and the Company completed the transaction on that date. In connection with the completion of the AJS Transaction, the Company terminated the previously-signed JDP Purchase Agreement with Van Lang Jewelry LLC / Jewelry Design Partners LLC and paid JDP a break-up fee of $45,000.

## Terms
- Counterparty: AJS Creations, Inc. · Deal value: $2.7M · Consideration: cash

## Key dates
- Vote 2026-06-22 · Expected close 2026-07-01 · Terminated 2026-07-08

## Timeline
- 2026-07-08 · 8-K (0001104659-26-081852): 8-K - CHARLES & COLVARD LTD — *Charles & Colvard, Ltd. is a jewelry company that manufactures and sells jewelry products.* On June 22, 2026, Charles & Colvard, Ltd. held a bankruptcy auction of its assets pursuant to Bankruptcy Court-approved bidding procedures. AJS Creations, Inc. (AJS) was designated the successful bidder, and the Company entered into an Overbid Purchase Agreement with AJS for the acquisition of specified assets and assumption of certain liabilities for cash consideration of $2,700,000. The Bankruptcy Court approved the AJS Transaction on July 1, 2026, and the Company completed the transaction on that date. In connection with the completion of the AJS Transaction, the Company terminated the previously-signed JDP Purchase Agreement with Van Lang Jewelry LLC / Jewelry Design Partners LLC and paid JDP a break-up fee of $45,000.
  https://www.sec.gov/Archives/edgar/data/1015155/0001104659-26-081852.txt

## Citations
- 0001104659-26-081852 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926081852