Actually the FAO Schwartz store had been there for many years when the company closed it due to bankruptcy, I think. The space was empty for a long while, and the reconstituted FAO Schwartz then re-opened, after emerging from Chapter ??
The Apple store is in the GM plaza in front of the GM building, just a few feet from FAO. If you remember, the GM building stands where the old Savoy Plaza Hotel was located and then torn down.
Thanks for the input on FAO in NYC. Here's a blurb from wikipedia:
At its height, the chain had a total of 40 stores throughout the United States. In 2001, The Right Start Company bought 22 of the 40 stores, and the other 18 unsold stores were immediately closed. In December 2002, Right Start, the then parent of FAO Schwarz, filed for bankruptcy. They would emerge from bankruptcy in April 2003 only to re-enter it in December 2003, forcing all stores to close.
In February 2004, hedge fund D. E. Shaw & Co., L.P., acquired the New York City and Las Vegas stores and FAO Schwarz's catalog and internet businesses. The New York and Las Vegas stores reopened on Thanksgiving Day 2004.
en.wikipedia.org
FAO didn't shut down NYC despite the loses
I stand (self-)corrected. Looks like there was a year it was shutdown, but resurrected. |
