|iParty Corp. (iParty), incorporated on March 12, 1998, is a party goods retailer operating stores throughout New England, where 47 of its 52 retail stores are located as of December 25, 2010, and in Florida. As of December 25, 2010, iParty operated 27 stores in Massachusetts, seven in Connecticut, six in New Hampshire, three in Rhode Island, three in Maine, one in Vermont and five stores in Florida. During the fiscal year ended December 25, 2010 (fiscal 2010), Halloween season the Company operated 11 temporary Halloween stores. In December 2010, iParty opened a new store in the South Bay Center, Boston, Massachusetts and entered into an agreement to acquire an additional store in Manchester, Connecticut. Its stores range in size from approximately 8,000 square feet to 20,295 square feet and average approximately 10,150 square feet in size. iParty Retail Stores Corp. is a wholly owned subsidiary of iParty Corp. The Company’s stores feature over 20,000 products ranging from paper party goods, Halloween costumes, greeting cards and balloons to merchandise such as pinatas, tiny toys, masquerade and Hawaiian Luau items. Its sales are primarily driven by holiday and party events, such as Halloween, Christmas, Easter, Valentine’s Day, New Year’s, Independence Day, St. Patrick’s Day, Thanksgiving, Chanukah and sports championships. iParty also focuses its business on, events such as anniversaries, graduations, birthdays, and bridal and baby showers.