According to a published report, Treasure Island's bankruptcy petition listed approximately $10.4 million in debts, $9.6 million of that to unsecured creditors, and $9.5 million in assets. Earlier this month, the company reported $49 million in total revenues for 2005.
Founded in 1970, the family-owned company has 11 stores in New Jersey: Ramsey, Paramus, North Plainfield, Wayne, East Brunswick, Florham Park, Shrewsbury, Lawrenceville, Toms River, Woodbridge and a clearance center in Mahwah. The other five are in New York: Scarsdale, Huntington, Carle Place, Wappingers Falls and Wainscott.
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