Famed Newark basket maker moves from reorganization to liquidation, likely ending any hope of revival.
Any hope that the Longaberger Co. would rise from the ashes appears gone, after a legal move that pushes the company toward final liquidation.
A Texas court has granted a request to convert the Newark basket-maker’s bankruptcy case from Chapter 11, which allows restructuring of debts, to Chapter 7, which forces a sale of assets.
The move means long-suffering Longaberger Co. sales consultants will likely never get paid, nor will the daughters of company founder Dave Longaberger.
Continue reading Tim Feran's breaking news story on Longaberger Co. on Columbus Dispatch.