UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                            -----------------------
                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

                                February 24, 2006
                Date of Report (Date of earliest event reported)

                                  iPARTY CORP.
             (Exact name of registrant as specified in its charter)

          Delaware                000-25507            76-0547750
(State or other jurisdiction     (Commission          (IRS Employer
      of incorporation)          File Number)       Identification No.)

  270 Bridge Street, Suite 301, Dedham, Massachusetts             02026
       (Address of principal executive offices)                (Zip Code)

                             (781) 329-3952
              (Registrant's telephone number, including area code)

                            -----------------------

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|  Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)

|_|  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))




Item 2.02 Results of Operations and Financial Condition.

On February 24, 2006, iParty Corp. issued a press release announcing its results
of  operations  for the fourth  fiscal  quarter  of 2005 and  fiscal  year ended
December 31, 2005.  The press release is attached  hereto as Exhibit 99.1 and is
incorporated herein by reference.

The information in this Form 8-K,  including the exhibit,  is being furnished to
the  Securities  and  Exchange  Commission  and shall not be deemed  "filed" for
purposes of Section 18 of the  Securities  Exchange Act of 1934, as amended,  or
otherwise  subject to the  liabilities  of that section,  not shall it be deemed
incorporated  by reference in any filing under the  securities  Act of 1933,  as
amended.

Item 9.01 Financial Statements and Exhibits.

         (d) Exhibits

99.1     Press release of iParty Corp. dated February 24, 2006




                                    SIGNATURE


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                    iPARTY CORP.

                                    By:    /s/ SAL PERISANO
                                       --------------------------
                                             Sal Perisano
                                       Chairman of the Board and
                                        Chief Executive Officer

Dated:  February 24, 2006



                                 EXHIBIT INDEX


EXHIBIT
NUMBER   DESCRIPTION
-------  -----------
99.1     Press release of iParty Corp. dated February 24, 2006