Brian Fitzherbert may have been out of the race even if Jeff Van Drew was still a Democrat.
Fitzherbert raised just $14,025 during the 4th quarter of 2019 and just $35,32 since entering the race last July.
His campaign finished the year with just $15,144 cash-on-hand and $44,781 in debt.
The former Atlantic County Young Republicans chairman dropped out of the race last week, just before President Donald Trump visited Wildwood to endorse Van Drew.
He sought the GOP nomination in 2018 and won the organization line in Gloucester County, but dropped out of the race after he failed to secure enough signatures to get on the ballot.
Fitzherbert owes money to a much-heralded campaign team he announced last summer, including $23,450 to Republican strategist Amanda Woloshen Glass, $6,533 to general consultant Axion Strategies, $2,754 to fundraising consultant Jamie Montgomery, $4,525 to compliance consultant McCauley & Associates, $2,156 to digital consultant The Prosper Group, and $1,025 to media consultant JD Bryden.