FAO Schwarz to Close NY Flagship

FAO Schwarz, the oldest toy store in the U.S, is closing its Fifth Avenue flagship store in New York City in July.

April 6, 2018

FAO Schwarz to Close NY Flagship

FAO Schwarz, the oldest toy store in the U.S, is closing its Fifth Avenue flagship store in New York City in July, citing the city’s increasing rent prices.

For the past several years Toys ‘R’ Us (which acquired FAO Schwarz in 2009) has been reviewing its lease renewal options for the FAO Schwarz Fifth Avenue location. In working with the property owner, the company was able to agree on an early exit in advance of the 2017 lease expiration. FAO Schwarz Fifth Avenue will close July 15.

The three-level, 45,000-square-foot space is a popular tourist destination and has made cameos in multiple movies most notably the 1988 movie

Big

, starring Tom Hanks.

Toys 'R' Us is actively looking for a new space for FAO Schwarz in Midtown Manhattan to re-open the flagship and plans to place as many current employees as possible in TRU and Babies ‘R’ Us locations in the greater New York/New Jersey area.

Subscribe and receive the latest news from the industry.

Join 62,000+ members. Yes, it’s completely free.

You May Also Like

Loading..

Report

Loading..

This site uses cookies to provide you with the best user experience possible. By using License Global, you accept our use of cookies.