Iconic basket maker Longaberger Co. goes out of business
Longaberger Co., famous for its baskets, has gone out of business after years of decline.
The company sent a note to its sales consultants Friday saying “Longaberger, at this time, has ceased operations,” according to The Columbus Dispatch.
The note told sales consultants to “please take action as soon as possible” in contacting credit-card companies and also advised against attempting to place any further orders.
The Dispatch reported that Longaberger has been been hit with hard economic times and changing consumer tastes, falling into a slow decline for years from its peak when it had $1 billion in sales and nearly 8,000 employees.
A little under two years ago Longaberger left its famous basket-shaped headquarters building in Newark, east of Columbus, and late last year had moved 25 miles further east in Dresden.
The New York Stock Exchange suspended trading on the shares of Longaberger parent JRJR Networks, based in Dallas, less than a month ago.