Sickles Says It Sold $800,000 In Gift Cards Before Closing

LITTLE SILVER, NJ — As part of their Dec. 6 bankruptcy filing — and request to reorganize and re-open — Sickles Market disclosed that it sold customers a total of $800,000 in gift cards before abruptly closing last winter.

However, the new owners who seek to purchase all of Sickles' assets and reopen the market — if a bankruptcy judge approves it — said they intend to honor all $800,000 of those gift cards.

"If the plan is confirmed and Sickles Market is reopened, as planned, Newco intends to initiate a program to honor approximately [$800,000] of gift cards that would otherwise be worthless, thus benefiting many local consumers," read the most recent Sickles bankruptcy filing, filed last Friday in U.S. bankruptcy court.

Normally when a business files for bankruptcy, all gift cards it sold are voided.

In the year before it closed, Sickles sold gift cards for $1,000, $2,000 and even $3,000 in value, as well as lesser amounts.

As Patch reported last week, three Rumson residents, Jennifer Griffin Karp, Dennis Devine and Timothy McCooey, formed an LLC called 1663 Partners, and they hope to purchase and reopen Sickles Market, sometime in 2025.

In this statement posted to the Sickles website last Thursday, 1663 said "all outstanding gift cards can be honored over time once the market reopens." Former Sickles employees will also be paid two weeks' severance, promised 1663 Partners.

Many former customers said Sickles sold expensive gift cards right up until they closed; one Monmouth Beach woman filed a complaint in small-claims court, saying Sickles owes her $3,000 for a gift card they sold her.

Well-known New Jersey law firm Genova Burns is representing Sickles in their bankruptcy. Patch now has a copy of the most recent Dec. 6 Sickles bankruptcy filing (bankruptcy filings are public record), so stay tuned for more reporting to come this week.

Last week's report: Sickles Will Reopen In Same Location In Summer 2025, Market Announces (Dec. 5)