Layoffs Announced at Major New York Halloween Costume Company

Nearly 100 people are losing their jobs when another New York business closes one of its main facilities in the state.

Amid the skyrocketing cost of living and a sharp decline in homeownership in the state, numerous businesses have also folded due to dwindling consumer spending and expensive leases.

New York's property values have reached record highs and that is causing business owners to make tough decisions if they want to stay afloat.

Unfortunately, others have opted to close their companies because the fiscal burden was too much.

Read More: Popular CNY Business Forced to Close Due to Financial Constraints

One company to announce major cost saving measures in the form of a closure and layoffs is a titan in the Halloween costume industry.

Rubies II, formerly known as Rubie’s Costume Company, is one of the world's largest costume makers and it's headquartered in New York.

Chances are, if you dressed like a famous superhero or pop star for Halloween, your costume was likely from Rubies.

The famous company announced that it will be relocating its facility on Candlewood Road in Bay Shore by the end of the year.

The company also confirmed that it will lay off 96 employees by the facility's expected closing date of December 31.

The announcement comes roughly four years after the company filed for Chapter 11 bankruptcy protection, citing troubles stemming from the pandemic and a decline in customers.

The company's longtime owners, the Beige Family, sold the business to new owners for $133 million a few months after declaring bankruptcy.

In recent years, the company moved most of its distribution and manufacturing operations from Long Island to states like Arizona, South Carolina, and Wisconsin.

At this time, Rubies did not reveal where it is relocating its Bay Shore facility.

Rubies was founded in 1951 as a candy store in Queens before pivoting to costume making in the late 70s. Its costumes are sold by major retailers like Walmart, Amazon, Target, Spirit Halloween and more.

The business is currently headquartered in Westbury and has its sales operations based in Melville.

However, given by the recent moves to other states, it's not certain if the business will remain headquartered in New York in the future.