Treasure Island files for bankruptcy

Expected to close all 14 stores

Treasure Island, the Mahwah, N.J.-based retail chain, filed a Chapter 11 voluntary bankruptcy claim in the District of New Jersey on Jan. 20.

The specialty store chain, known for selling outdoor furniture, Christmas decorations and craft supplies, is expected to close all 14 stores by the end of next month. Efforts to reach company officials Lynn Beylerian, president, and Paul Pinajian, executive vice president, were unsuccessful at press time. Founded in 1970 by Robert Buchakian, the family owned Treasure Island is another apparent victim of the discounters. It had grown from its original site in an old barn into an award-winning chain that included eight retail stores in New Jersey, five in New York, a clearance center and two warehouses in Mahwah. It employed about 450 people at the time of court filings. Treasure Island had an estimated $49 million in annual revenues in 2005. It was listed among Casual Living’s 100 Powerhouse Specialists in September 2005. It was the 2002 multi-store Apollo Award winner and a multiple Apollo nominee over the years. 

Featured Video

  • Introducing the Barclay Butera Collection for Castelle

    Camera Icon More Videos

Exterior Design

Exterior Design

See our new publication!  Exterior Design promises to showcase the best, most innovative product design across all key categories of outdoor.  With a unique vision and a focus on fashion, design, luxury and style, it's a must-see magazine for forward-thinking designers and high-end retailers. See the inaugural issue!

May Digital Edition

Casual Living Digital Edition

Don’t miss the May digital edition of Casual Living and our third installment of the Elements series—Water. Also, contributor Laurie Rudd shares the latest in fashionable fountains and water features. And lastly, designer Libby Langdon shows how adding a little water—fountain, bubble wall or even a peel-and-stick beach scene—can up the ambiance in any showroom. 

Take a moment to subscribe!

May Digital Edition