FAO Schwartz in trouble

In another ICv2 story, we hear that FAO Schwartz stores aren’t doing that well either. Apparently, the stores have reported a 20% loss compared to last year. Though there are only 23 FAO stores proper, the company also owns 61 Right Start stores and 169 Zany Brainy stores. According to the story, “FAO has asked its bank to relax recently imposed borrowing restrictions, stating that it will be forced into bankruptcy under current conditions.” I’ll have to drop in on the San Francisco store soon, just in case they go under. Neat place, and a wide variety, but a bit pricey overall.