TBAC Investment Trust and Tandy Brands Accessories Handbags, Inc. filed a voluntary petition for liquidation under Chapter 7 in the U.S. Bankruptcy Court for the Northern District of Texas on April 24, 2014. The debtors listed its assets and liabilities of below $0.05 million. Michael P. Massad, Jr. of Winstead PC and Brandon John Tittle of Reid Collins & Tsai, LLP acted as legal counsels for the debtors.