Longaberger to liquidate under new bankruptcy filing

A Texas court has granted Longaberger's request to change its bankruptcy case from Chapter 11, to Chapter 7, which forces liquidation of the company's assets, the Columbus Dispatch reports.

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The maker of handcrafted woven baskets announced it was going out of business in May. The basket company has had a slow decline from its peak $1 billion in sales and nearly 8,000 employees, according to the Columbus Dispatch.

About 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 to Dresden.

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