Underthings Stories: What Do You Do When a Favorite Bra Starts to Bust?

The other day, I noticed that one of my favorite bralettes, The Lake and Stars Curveball Bustier, is going bust. Well, not entirely, but I'm afraid to wear it for fear of destroying it completely. The Lake and Stars has a unique hook & grommet clasp that's secured into the ribbon, and the grosgrain has started fraying a bit around the last grommet. 

I'm not entirely sure how to fix this, and I don't want to stop wearing it either. I messaged Maayan & Nikki so hopefully they'll reply with some advice!