-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VyMQqodOoKL/FelyIdDpOXIx/YKdPZ7fprYdxknSgzUvWnwX324J0zucCSmKCPHu
 2AFhZLkf4S6kjUtNXnILEg==

<SEC-DOCUMENT>0001209191-07-064474.txt : 20071116
<SEC-HEADER>0001209191-07-064474.hdr.sgml : 20071116
<ACCEPTANCE-DATETIME>20071116114232
ACCESSION NUMBER:		0001209191-07-064474
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20071114
FILED AS OF DATE:		20071116
DATE AS OF CHANGE:		20071116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FACTORY CARD & PARTY OUTLET CORP
		CENTRAL INDEX KEY:			0001024441
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940]
		IRS NUMBER:				363652087
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		2727 DIEHL RD
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
		BUSINESS PHONE:		6305792000

	MAIL ADDRESS:	
		STREET 1:		745 BIRGINAL DRIVE
		CITY:			BENSENVILLE
		STATE:			IL
		ZIP:			60106

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FACTORY CARD OUTLET CORP
		DATE OF NAME CHANGE:	19961008

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			AAH Holdings CORP
		CENTRAL INDEX KEY:			0001340554
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21859
		FILM NUMBER:		071252033

	BUSINESS ADDRESS:	
		STREET 1:		C/O BERKSHIRE PARTNERS LLC
		STREET 2:		ONE BOSTON PLACE, SUITE 3300
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02108
		BUSINESS PHONE:		(617) 227-0050

	MAIL ADDRESS:	
		STREET 1:		C/O BERKSHIRE PARTNERS LLC
		STREET 2:		ONE BOSTON PLACE, SUITE 3300
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02108

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			AMSCAN HOLDINGS INC
		CENTRAL INDEX KEY:			0001024729
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPERBOARD CONTAINERS & BOXES [2650]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21859
		FILM NUMBER:		071252034

	BUSINESS ADDRESS:	
		STREET 1:		80 GRASSLANDS ROAD
		CITY:			ELMSFORD
		STATE:			NY
		ZIP:			10523
		BUSINESS PHONE:		9143452020

	MAIL ADDRESS:	
		STREET 1:		80 GRASSLANDS ROAD
		CITY:			ELMSFORD
		STATE:			NY
		ZIP:			10523

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Amscan Acquisition, Inc.
		CENTRAL INDEX KEY:			0001411401

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21859
		FILM NUMBER:		071252035

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		800-927-9800

	MAIL ADDRESS:	
		STREET 1:		2711 CENTERVILLE ROAD
		STREET 2:		SUITE 400
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19808
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bny42598_bny8aai.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-11-14</periodOfReport>

    <issuer>
        <issuerCik>0001024441</issuerCik>
        <issuerName>FACTORY CARD &amp; PARTY OUTLET CORP</issuerName>
        <issuerTradingSymbol>FCPO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001411401</rptOwnerCik>
            <rptOwnerName>Amscan Acquisition, Inc.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BERKSHIRE PARTNERS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>ONE BOSTON PLACE</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02108</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001024729</rptOwnerCik>
            <rptOwnerName>AMSCAN HOLDINGS INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>80 GRASSLANDS ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ELMSFORD</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10523</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001340554</rptOwnerCik>
            <rptOwnerName>AAH Holdings CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BERKSHIRE PARTNERS LLC</rptOwnerStreet1>
            <rptOwnerStreet2>ONE BOSTON PLACE, SUITE 3300</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02108</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-11-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>16314</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>16.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3136296</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-11-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>46554</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>16.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3182850</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">These shares are owned directly by Amscan Acquisition, Inc., a wholly-owned subsidiary of Amscan Holdings, Inc., which in turn is a wholly-owned subsidiary of AAH Holdings Corporation.  Amscan Holdings, Inc. and AAH Holdings Corporation may be deemed to be indirect beneficial owners of the reported securities only by virtue of the fact that Amscan Acquisition, Inc., the record holder of the shares, is a wholly-owned subsidiary.  Amscan Holdings, Inc. and AAH Holdings Corporation disclaim beneficial ownership of the reported securities, and this report shall not be deemed an admission by either of such entities that it is a beneficial owner of such securities for purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert J. Small, President</signatureName>
        <signatureDate>2007-11-16</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Michael Correale, Chief Financial Officer</signatureName>
        <signatureDate>2007-11-16</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ James M. Harrison, President</signatureName>
        <signatureDate>2007-11-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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