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NEW YORK CITY-FAO Schwarz reopens a redesigned flagship store at767 Fifth Ave. on Thanksgiving morning. This follows the October 22reopening of a Las Vegas store located within the Forum Shops atCaesars Palace.
Last December, in a deal valued at $20 million, King of Prussia,PA-based FAO Inc., sold assets including the 78,000-sf flagshiphere, the Las Vegas store, its signature clock towers and other FAOfixtures, as well as its Internet and catalog businesses to VGACSAcquisition Inc., a subsidiary of DE Shaw Laminar PortfoliosLLC.
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