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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
PARTY CITY CORPORATION
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
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(Title of class of securities)
0007021451
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(CUSIP number)
December 31, 1997
--------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
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* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 7 Pages
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CUSIP NO. 0007021451 13G PAGE 2 OF 7 PAGES
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Craig Enterprises, Inc.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X]
- -------------------------------------------------------------------------------
(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY
EACH 1,107,000
REPORTING --------------------------------------------------------
PERSON WITH (7) SOLE DISPOSITIVE POWER
0
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(8) SHARED DISPOSITIVE POWER
1,107,000
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,107,000
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions) [ ]
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.0%
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(12) TYPE OF REPORTING PERSON (See Instructions) [ ]
CO
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Page 2 of 7 Pages
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CUSIP NO. 0007021451 13G PAGE 3 OF 7 PAGES
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sidney Craig
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY
EACH 1,107,000
REPORTING --------------------------------------------------------
PERSON WITH (7) SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
1,107,000
- -------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,107,000
- -------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions) [ ]
- -------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.0%
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(12) TYPE OF REPORTING PERSON (See Instructions) [ ]
IN
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Page 3 of 7 Pages
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CUSIP NO. 0007021451 13G PAGE 4 OF 7 PAGES
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(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jenny Craig
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(See Instructions) (b) [X]
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(3) SEC USE ONLY
- -------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY
EACH 1,107,000
REPORTING --------------------------------------------------------
PERSON WITH (7) SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
1,107,000
- -------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,107,000
- -------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions) [ ]
- -------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.0%
- -------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (See Instructions) [ ]
IN
- -------------------------------------------------------------------------------
Page 4 of 7 Pages
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ITEM 1.
(a) Party City Corporation
(b) 400 Commons Way, Rockaway, New Jersey 07866
ITEM 2.
(a) Craig Enterprises, Inc.; Sidney Craig; Jenny Craig
(b) Craig Enterprises, Inc., 11355 N. Torrey Pines Road, La Jolla,
California 92038-9748
Sidney Craig, 11355 N. Torrey Pines Road, La Jolla, California
92038-9748
Jenny Craig, 11355 N. Torrey Pines Road, La Jolla, California
92038-9748
(c) See respective cover sheets for the citizenship of persons filing
this Schedule 13G.
(d) Common Stock
(e) 0007021451
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act
(15 U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment advisor in accordance with
Section 240.13d-1(b)(1)(ii)(E).
(f) [ ] An employee benefit plan, or endowment fund in accordance
with Section 240.13d-1(b)(1)(ii)(F)
(g) [ ] A parent holding company or control person in accordance
with Section 240.13d-1(b)(1)(ii)(G).
Page 5 of 7 Pages
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(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3)
(j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP
Craig Enterprises, Inc. ("CEI") owns directly 1,107,000 shares of
Common Stock, $.01 par value per share, of the Issuer ("Common
Stock"), constituting 9.0% of the outstanding Common Stock of the
Issuer. Sidney Craig and Jenny Craig, who are husband and wife, own in
the aggregate 100% of the outstanding Common Stock of CEI. For
information with respect to the number of shares of Common Stock of
the Issuer beneficially owned by the persons filing this Schedule 13G,
and percent of class and sole or shared voting power with respect to
such shares, see the respective cover sheets included herein with
respect to each of the persons filing this Schedule 13G.
ITEM 5. Not applicable.
ITEM 6. Not applicable.
ITEM 7. Not applicable.
ITEM 8. Not applicable.
ITEM 9. Not applicable.
ITEM 10. Not applicable.
An agreement and a Power of Attorney among the persons filing this Schedule 13G
with respect to such filing were attached to the Schedule 13G filed by such
persons on February 11, 1997. Such agreement and Power of Attorney are hereby
incorporated by reference.
Page 6 of 7 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
April 22, 1999
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Date
CRAIG ENTERPRISES, INC.
By: /s/ Sidney Craig
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Sidney Craig, President
/s/ Sidney Craig
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SIDNEY CRAIG
/s/ Jenny Craig
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JENNY CRAIG
Page 7 of 7 Pages
