Neverland Ranch Finally Shuts Down

MICHAEL JACKSON's Neverland Ranch will be shut down.

Employees are said to have reported to the ranch in groups Thursday afternoon to receive back pay owed to them, and were informed the ranch had been shut down by Jackson. More than 60 loyal employees received their pink slips.

According to Jackson spokesperson RAYMONE K. BAIN, "It is public knowledge that Mr. Jackson currently resides in the Middle Eastern country of Bahrain ... he therefore decided to close his house and reduce his work force."

Last week, Neverland was shut down by authorities for reportedly letting its worker's compensation policy lapse. Jackson was also fined $69,000. According to California Department of Industrial Relations spokesman DEAN FRYER, the "stop order" was issued after an injured worker complained the day before that he did not have the state-required health coverage.

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