Toys ‘R Us has bought out FAO Schwarz, saving the latter from bankruptcy. The financial details of the deal were not released, but Toys R Us may feel upset, learning only after the sale that batteries were not included.
FAO Schwarz was founded in 1862 as a decidedly upscale toy retailer, and is proud to have supplied high-end merchandise for generations of unappreciative, spoiled brats.
Toys R Us drew contracts with crayons, markers, and colored pencils.
FAO Schwarz was struggling financially and had filed for bankruptcy protection twice. Toys R Us is expected to increase Schwarz’ allowance, but they will have to do more chores.
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