December 04, 2025
Thom Carroll/For PhillyVoice
Ocean City Mayor Jay A. Gillian, who formerly owned Wonderland Pier, says he has filed for personal bankruptcy due to 'serious financial strain.'
Ocean City Mayor Jay Gillian said Wednesday that he has filed for personal bankruptcy, saying his family has been under "serious financial strain" due to various financial obligations, business decisions and unforeseen events over the last several years.
"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 wrote in a letter to the Jersey Shore town's residents. "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, who was first elected in 2010, said his personal finances have no impact on the "finances, budget, credit rating or operations" of Ocean City.
"Our city's fiscal position remains strong and all municipal services, programs and commitments continue uninterrupted and fully funded," he said. "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."
Gillian shared the news just hours after Ocean City council agreed to consider the redevelopment of Wonderland Pier, the amusement park his family once owned. The family sold it in 2021 to Icona Resorts to avoid a sheriff's sale after defaulting on an $8 million mortgage.
Gillian continued to manage the amusement park until it closed in 2024. At the time, Gillian said it was "no longer a viable business."
"I tried my best to sustain Wonderland for as long as possible — through increasingly difficult challenges each year," Gillian said in August 2024. "... The property itself is no longer mine, so I can't speak to its future. But I'll always have a lifetime of priceless memories, and I hope you will too."
Icona Resorts has sought to build a 252-room hotel on the site, but city council overwhelming rejected in August a zoning change needed to move the project forward. However, city council plans to vote again on the matter Thursday night.
In September, Gillian said he would "absolutely" seek his fifth term in the 2026 mayoral election. In his letter Wednesday, he asked opponents not to use his "personally humbling" decision 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," the letter reads.
