Can Dr. Fad save toys cataloger/retailer FAO Schwarz in time for Christmas?
Ken Hakuta–aka Dr. Fad, the entrepreneur responsible for bringing the Wacky WallWalker to the masses–is negotiating to buy FAO Schwarz from parent company FAO, which is now in Chapter 11 bankruptcy protection. FAO is already liquidating its Zany Brainy retail chain. If it can’t find a buyer for FAO Schwarz or its Right Start catalog/retail brand by Dec. 15, they will likely be liquidated as well.
The Peter J. Solomon Co. is advising Hakuta on the deal.