Figs makes higher-end uniforms for healthcare professionals, essentially trying to do for scrubs what Lululemon (NASDAQ: LULU ). However, the company faced stiff competition from the nation's largest scrubs company, Careismatic Brands, which dominates as much as half of the overall market. But Careismatic is faltering, having emerged from bankruptcy proceedings last month. Successfully navigating bankruptcy comes with a price; namely, new shareholders who helped the company continue will likely pick it apart for scrap in a bid to extract every ounce of value from the firm, long-term consequences be damned.