Gillian, who closed Wonderland Pier amusement park last year, makes announcement on city website
OCEAN CITY — Mayor Jay Gillian announced Wednesday that he was filing for personal bankruptcy.
“To the residents of Ocean City: I want to address a deeply personal matter with the openness and honesty that you deserve from your mayor,” Gillian wrote in his letter to the community posted on the city’s website, ocnj.us.
“Recently I made the painful decision to file for personal bankruptcy. This was an extraordinarily difficult decision, but ultimately the most responsible course of action after a series of financial challenges that I could no longer manage,” he wrote.
“Over the past several years, a combination of personal financial obligations, business decisions I’ve made, unforeseen events and circumstances outside of my control gradually created serious financial strain on me and my family,” he continued. “Like many individuals and families across our nation who encounter unexpected hardship, I found myself in a position where traditional methods were no longer viable.”
Gillian owned and ran the iconic Gillian’s Wonderland Pier amusement park at Sixth Street and Boardwalk, a business he took over and purchased from his father, former mayor Roy Gillian, who died in August 2024. The family-owned business operated for nearly 60 years, but ran into financial trouble in more recent years, in part from an ill-fated decision to build a small amusement park in Sea Isle City.
The big 600 Boardwalk property went into foreclosure in late 2020 during the height of the COVID-19 pandemic after banks called in some $8 million in loans.
Hotelier and luxury home builder Eustace Mita bought the property in early 2021 for what he said was $14 million, then leased it back to Gillian to continue running the amusement park.
Gillian ran the amusement park for the next four seasons until announcing in August 2024 that the park would close permanently because it was no longer financially viable. He said Ocean City could not sustain two amusement parks. Playland’s Castaway Cove operates a few blocks south on the boardwalk.
In October 2024, the park closed for good. The 2025 summer season saw it sit silent.
“After consulting with financial professionals, and personal legal counsel, I concluded that bankruptcy was the best legal process available to responsibly address my personal obligations, restructure my personal financial situation and chart a path toward stability,” Gillian wrote. “This is not a decision I ever imagined I would face, nor is it one I take lightly. I understand the seriousness of it, and I am committed to learning from this experience and rebuilding with integrity and discipline.”
The mayor made clear what he is doing personally is not reflected in the financial status of the resort he oversees.
“I want to emphasize one point unequivocally: my personal financial situation has no impact whatsoever on city finances, budget, credit rating or operations,” he wrote in the letter. “Our city’s fiscal position remains strong, and all municipal services, programs and commitments continue uninterrupted and fully funded. Safeguards, oversight and the structure of municipal government ensure that personal finances and public finances remain entirely separate.”
Gillian said he remains committed to his position, one he will fight to keep in the May 2026 election. Gillian said when he was closing Wonderland Pier that he would run for re-election. He was first elected in 2010 and re-elected in 2014, 2018 and 2022.
“Despite this personal challenge, my dedication to this job and to the people of Ocean City remains unwavering. My focus remains on continuing the work you elected me to do: invest wisely, support responsible economic development, improve public safety and ensuring the overall success of our city for every resident. This moment, while personally humbling, does not distract from that mission,” Gillian wrote to Ocean City’s residents.
He acknowledged financial hardships affect millions of Americans, including in the resort, and that he hoped his being transparent about his difficulties would help others.
He made a point of noting that some people may use his announcement as “a political opportunity.”
The mayor was opposed in the last two elections by longtime City Councilman Keith Hartzell, whom he defeated. Hartzell has not made an official announcement about a potential candidacy this coming year, nor have any others announced they will be running for mayor.
The spring election is for mayor and the three at-large City Council members. They are Sean Barnes, Tony Polcini and Pete Madden. Polcini said he is not seeking re-election.
“I am profoundly grateful for the support I have received from my family, friends, colleagues and many of you in our community. I also respect that some may view this matter with a measure of concern,” Gillian wrote. “I hear you. I understand your expectations. And I intend to meet them every day through hard work, continued transparency and unwavering commitment and love for Ocean City.
“I also understand that some may see this as a political opportunity. I simply ask for two things: respect for my family during this time and a collective commitment to work together to continue to make Ocean City the best it can be,” he wrote.
The mayor concluded his remarks by thanking citizens for the understanding, trust and partnership.
“I remain honored to serve as your mayor, and my administration and I will continue to carry out our duties with the same enthusiasm, energy, focus and dedication I bring to the office every single day.”
– By DAVID NAHAN/Sentinel staff