Beleaguered toy merchant FAO Inc. will sell its flagship Manhattan toy store, FAO Schwarz, along with some other assets for $20 million.
The deal with D.E. Shaw Laminar Portfolios includes a store in the Forum Shops in Las Vegas, FAO Schwarz's signature clock towers and its Internet and catalog businesses. Shaw Laminar is a unit of D.E. Shaw & Co., a New York investment and technology venture company.
