PHOTOS: Check out the Longaberger basket company through the years
Here are five things we know about the closure:
1. CEASED OPERATIONS
The company sent a note to its sales consultants Friday saying "Longaberger, at this time, has ceased operations," according to The Columbus Dispatch.
Anyone else's mom have a few of these? Iconic basket maker Longaberger Co. goes out of business https://t.co/129JYWzJ5J
— Will Garbe (@WGarbeWHIO) May 7, 2018
2. ECONOMIC HITS
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.
3. NO FURTHER ORDERS
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.
4. LEAVING NEWARK
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.
5. SUSPENDED TRADING
The New York Stock Exchange suspended trading on the shares of Longaberger parent JRJR Networks, based in Dallas, less than a month ago.