Possible Buyer Found For FAO Schwarz

A possible buyer has been found for at least some of the FAO Schwarz assets, including the flagship New York Store.

According to Newsday.com, a "substantial offer" has been made for the fabled New York location as well as some of the other company assets. Company officials aren't saying much more at this time--we may all find out more in the next few days.

This is good news, especially if it keeps the New York store open, and even better news if some of the other FAO Schwarz locations remain open as well.