The Longaberger Co. and parent JRJR Network has filed for Chapter 11 bankruptcy reorganization.
JRJR Networks and Longaberger listed between $1 million and $10 million in both assets and liabilities, court papers show.
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, the company moved from its headquarters in a seven-story model of one of its baskets in Newark, east of Columbus. The company moved 25 miles east to Dresden.
Longaberger was founded by Dave Longaberger in 1973. When he died in 1999 his daughter Tami Longaberger took over the company. The younger Longaberger resigned in 2015.
Parent company JRJR Network, which also filed for Chapter 11 bankruptcy, owns Tomboy Tools, a direct seller of tools for women, and Agel Enterprises, which sells a line of nutritional gel products.
In April, JRJR Networks was delisted from the NYSE American LLC becuase it couldn’t provide audited financial statements on time.
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