Ocean City Mayor Files For Personal Bankruptcy

OCEAN CITY, NJ — Ocean City Mayor Jay Gillian has filed for personal bankruptcy, he announced Wednesday.

"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," Gillian wrote in a message to Ocean City residents.

"After consulting with financial professionals, and personal legal counsel, I concluded that bankruptcy was that best legal process available to responsibly address my personal obligations, restructure my personal financial situation and chart a path toward stability," he said. "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."

Gillian, mayor since 2010, has had his finances in the public eye for several years. The closure of Gillian's Wonderland Pier came a few years after the amusement park nearly was foreclosed and put up for auction. He had defaulted on more than $8 million in loans.

At that time, developer Eustace Mita stepped in as a co-owner and kept the business afloat until its 2024 closure.

Gillian acknowledged the difficulty of this financial situation, but emphasized that it did not impact Ocean City's finances.

"Our city’s fiscal position remains strong, and all municipal services, programs and commitments continue uninterrupted and fully funded," he said. "Safeguards, oversight, and the structure of municipal government ensure that personal finances and public finances remain entirely separate."

He also said he remains dedicated to being mayor.

"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 said. "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."