Toy Retailer FAO Files for Bankruptcy
“FAO Inc., which owns toy retailers FAO Schwarz, Zany Brainy and The Right Start, filed for Chapter 11 bankruptcy protection Monday, pinched by tightening credit policies by a key lender.”
I didn’t realize that FAO was in such bad shape. I guess as consumers are watching their wallets more, high end retalers like FAO Schwartz are taking the hit. And speaking of FAO Schwartz, we’ve probably gone in that toy store more than any other, since they have so many toys you can play with. But we’ve never spent a single cent there since everything is full retail price.