UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Party City Corporation
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
0007021451
------------------------------------
(CUSIP Number)
December 31, 2002
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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 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).
CUSIP No. 0007021451 Page 2 of 7
________________________________________________________________________________
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF PERSON
Craig Enterprises, Inc.
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [X]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 0
SHARES _________________________________________________________________
6 SHARED VOTING POWER
BENEFICIALLY 1,107,000
OWNED BY
_________________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _________________________________________________________________
8 SHARED DISPOSITIVE POWER
WITH 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)
6.7%
________________________________________________________________________________
12 TYPE OF REPORTING PERSON (See Instuctions)
CO
________________________________________________________________________________
Page 2 of 7
CUSIP No. 0007021451 Page 3 of 7
________________________________________________________________________________
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF PERSON
Sidney Craig
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [X]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 0
SHARES _________________________________________________________________
6 SHARED VOTING POWER
BENEFICIALLY 1,219,202
OWNED BY
_________________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _________________________________________________________________
8 SHARED DISPOSITIVE POWER
WITH 1,219,202
________________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,219,202
________________________________________________________________________________
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)
7.4%
________________________________________________________________________________
12 TYPE OF REPORTING PERSON (See Instructions)
IN
________________________________________________________________________________
Page 3 of 7
CUSIP No. 000702151 Page 4 of 7
________________________________________________________________________________
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF PERSON
Jenny Craig
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [X]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 0
SHARES _________________________________________________________________
6 SHARED VOTING POWER
BENEFICIALLY 1,219,202
OWNED BY
_________________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON _________________________________________________________________
8 SHARED DISPOSITIVE POWER
WITH 1,219,202
________________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,219,202
________________________________________________________________________________
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)
7.4%
________________________________________________________________________________
12 TYPE OF REPORTING PERSON (See Instructions)
IN
________________________________________________________________________________
Page 4 of 7
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., 16092 San Dieguito, P.O. Box 675532,
Rancho Santa Fe, CA 92067
Sidney Craig, 16092 San Dieguito, P.O. Box 675532,
Rancho Santa Fe, CA 92067
Jenny Craig, 16092 San Dieguito, P.O. Box 675532,
Rancho Santa Fe, CA 92067
(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
(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")
representing 6.7% of the outstanding Common Stock. Sidney Craig and Jenny
Craig, who are husband and wife, own in the aggregate 100% of the
outstanding Common Stock of CEI. Sidney Craig and Jenny Craig own directly
112,802 shares of Common Stock of the Issuer. The 1,219,202 shares of
Common Stock of the Issuer beneficially owned by Sidney and Jenny Craig
represent 7.4% of the outstanding Common Stock of the Issuer. 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
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.
August 6, 2003
------------------------
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