SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Rule 13d-102
Under the Securities Exchange Act of 1934
(Amendment No. )*
Party City Corp.
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(Name of Issuer)
Common
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(Title of Class of Securities)
70214510
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(CUSIP Number)
Jan 1, 2001
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(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)
|X| Rule 13d-1 (c)
|_| 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 disclosures provided in a prior cover page.
The information required on 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>
CUSIP No. 702145103 13G Page 2 of 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jewel Investments, LLC
I.R.S. # 13-4148042
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of New York
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5 SOLE VOTING POWER
0
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
911,099
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
911,099
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.2%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 702145103 13G Page 3 of 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jewel GP, LLC
I.R.S. # 13-4148040
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
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5 SOLE VOTING POWER
0
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 824,099
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
824,099
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
824,099
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.5%
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12 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 702145103 13G Page 4 of 9
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James Schainuck
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(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
0
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 824,099
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
911,099
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
911,099
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.2%
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
INTRODUCTORY NOTE: This Statement on Schedule 13G is the initial filing on
Schedule 13G by the Reporting Persons (as defined below) pursuant to Rule
13d-1(c) (the "Schedule 13G"). The Schedule 13G is filed by (i) Jewel
Investments, LLC, a New York limited liability company, which is sub-advisor to
three managed accounts and, as of January 1, 2001, became the investment manager
of two investment partnerships of which Jewel GP, LLC is the general partner,
(ii) Jewel GP, LLC, a Delaware limited liability company, which, as of the end
of December 31, 2000, became the general partner of two investment partnerships
of which Jewel Investments, LLC is the investment manager, and (iii) James
Schainuck, the Managing Member of Jewel Investments, LLC and Jewel GP, LLC
(collectively, the "Reporting Persons").
Item 1(a) Name of Issuer
Party City Corp.
Item 1(b) Address of Issuer's Principal Executive Office
450 COMMONS WAY, ROCKAWAY, NJ, 07860
Item 2(a) Name of Persons Filing
Jewel Investments, LLC, Jewel GP, LLC and James Schainuck
Item 2(b) Address of principal business office of each Reporting Person:
605 Third Avenue, 19th Floor,
New York, NY 10158
Item 2(c) Citizenship
Jewel Investments, LLC is a New York limited liability company; Jewel
GP, LLC is a Delaware limited liability company; and James Schainuck
is a citizen of the United States.
Item 2(d) Title of Class of Securities
Common Stock
Item 2(e) CUSIP Number
702145103
Item 3 If this statement is filed pursuant to Rules 13d-1(b) or
13-2(b) or (c), check whether the person filing is a:
(a) |_| Broker of Dealer registered under Section 15 of the Act
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(b) |_| Bank as defined in Section 3(a)(6) of the Act
(c) |_| Insurance company as defined in Section 3(a)(19) of the Act
(d) |_| Investment Company registered under section 8 of the Investment
Company Act of 1940
(e) |_| An Investment Adviser in accordance with 13-1(b)(1)(ii)(E)
(f) |_| An Employee Benefit Plan or Endowment Fund in accordance with
13d-1(b)(1)(ii)(F)
(g) |_| A Parent Holding Company or Control Person in accordance with
13d-1(b)(1)(ii)(G)
(h) |_| A Savings Association as defined in Section 3(b) of the Federal
Deposit Insurance Act
(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
(j) |_| Group, in accordance with 13d-1(b)(1)(ii)(J)
Item 4 Ownership
Item 4(a) Amount Beneficially Owned
Jewel Investments, LLC, as the sub-advisor to three managed accounts,
beneficially owns in the aggregate 87,000 shares of Common Stock of the Issuer,
and, as the investment manager of two investment partnerships of which Jewel GP,
LLC is the general partner, beneficially owns in the aggregate 824,099 shares of
Common Stock of the Issuer, for a total of 911,099 shares. James Schainuck is
the Managing Member of Jewel Investments, LLC (and Jewel GP, LLC) and thus
beneficially owns the same number of shares of Common Stock of the Issuer as
does Jewel Investments, LLC. Jewel GP, LLC, as the general partner of the
aforementioned two investment partnerships, beneficially owns in the aggregate
824,099 shares of the Common Stock of the Issuer.
Item 4(b) Percent of Class
Jewel Investments, LLC and James Schainuck each beneficially owns 7.2% of the
class. Jewel GP, LLC beneficially owns, 6.5% of the class.
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<PAGE>
Item 4(c) Number of Shares as to which Such Person Has:
<TABLE>
<S> <C>
i. Sole power to vote or to direct the vote: 0
ii. Shared power to vote or to direct the vote: 824,099 (Jewel GP,
LLC and James Schainuck)
iii. Sole power to dispose or to direct the disposition of: 0
iv. Shared power to dispose or to direct the disposition of: 911,099 099 (Jewel
Investments, LLC and
James Schainuck); 824,099
(Jewel GP, LLC)
</TABLE>
Item 5 Ownership of Five Percent or Less of a Class
Not applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person
The shares of securities as to which this Schedule is filed by the Reporting
Persons in their respective capacities are owned of record by other entities,
each of which has the right to receive dividends from, or the proceeds from the
sale of, the securities owned by such entity. No such entity owns more than five
percent of such class of securities.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Not applicable
Item 8 Identification and Classification of Members of the Group
Not applicable
Item 9 Notice of Dissolution of Group
Not applicable
Item 10 Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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<PAGE>
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.
Date: January 18, 2001
Jewel Investments, LLC
By: /s/ James Schainuck
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Name: James Schainuck
Title: Managing Member
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.
Date: January 18, 2001
Jewel GP, LLC
By: /s/ James Schainuck
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Name: James Schainuck
Title: Managing Member
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.
Date: January 18, 2001
/s/ James Schainuck
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James Schainuck
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<PAGE>
JOINT FILING AGREEMENT
The undersigned parties hereby agree that the Schedule 13G filed
herewith relating to the Common Stock of Party City Corp. is being filed jointly
with the Securities and Exchange Commission pursuant to Rule 13d-1(k)1 on behalf
of each such person.
Date: January 18, 2001
Jewel Investments, LLC
By: /s/ James Schainuck
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Name: James Schainuck
Title: Managing Member
Jewel GP, LLC
By: /s/ James Schainuck
-----------------------------------------
Name: James Schainuck
Title: Managing Member
/s/ James Schainuck
------------------------------------------
James Schainuck
