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

Date of Report (Date of earliest event reported):  May 25, 2004

                      J NET ENTERPRISES, INC.
_______________________________________________________________
     Exact Name of Registrant as Specified in its Charter)

                   Commission File No. 1-9728

        Nevada                          88-0169922
___________________________   __________________________________
(State or other jurisdiction  (IRS Employer Identification
incorporation)                 Number)

                     4020 Lake Creek Drive, #100
                          Wilson, WY 83014
_____________________________________________________________
(Address, including zip code, of Principal Executive Offices)

                          (307) 739-8603
       ___________________________________________________
       (Registrant's telephone number including area code)

Item 5.  Other Events.

On May 25, 2004, InterWorld Corporation ("InterWorld" or, the
"Debtor"), a 95.3% owned subsidiary of J Net Enterprises, Inc.
(the "Company"), filed a voluntary petition for relief under
chapter 7 of title 11 of the United States Code (the "Bankruptcy
Code") in the United States Bankruptcy Court for the Southern
District of New York (the "Bankruptcy Court") (Case No.
04-13590).  Section 362(a)(3) of the Bankruptcy Code provides
that "any act to obtain possession of property from the
estate or to exercise control over the property of the estate"
was automatically stayed upon the filing of InterWorld's chapter
7 petition.  The automatic stay will protect property of the
Debtor's estate from the reach of individual creditors so that it
will be available to all creditors, thereby ensuring that all
creditors, including any future tort claimants, are treated
equitably.  The automatic stay prohibits the prosecution of
claims against the Debtor outside of the bankruptcy case.

Item 7.  Financial Statements, PRO FORMA Financial Information
         and Exhibits

        (a)  Financial Statements.

             Not applicable.

        (b)  Pro Forma Financial Information.

             Not applicable.

        (c)  Exhibits

         None.

                             SIGNATURES

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

                            J Net Enterprises, Inc.

                            By:  /s/ Mark E. Wilson
                                 _________________________
                                 Name:  Mark E. Wilson
                                 Title: Chief Financial Officer

Date: May 27, 2004