F.A.O (NASDAQ:FAOO)
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FAO, Inc. Retains DJM Asset Management to Dispose Of 89 Zany Brainy Leases
KING OF PRUSSIA, Pa., Dec. 10 /PRNewswire/ -- FAO, Inc. , announced today that
it has retained DJM Asset Management, LLC, to dispose of the leases of 89 Zany
Brainy stores as part of its voluntary Chapter 11 bankruptcy petition filed last
week.
The closing stores, located in 27 states nationwide, range in size from 6,000 to
15,000 square feet.
"The Zany Brainy locations that we are marketing present a unique opportunity
for retailers to penetrate premium regional markets with strong demographics in
some of the highest quality shopping centers in the country," said Andy Graiser,
Co-CEO of DJM. "DJM will conduct an auction of these leases at the end of
January with bids due by mid January."
For more information on specific Zany Brainy locations, contact Jim Avallone or
Andy Graiser at 631-752-1100.
About DJM Asset Management, LLC
Based in Melville, New York, DJM Asset Management, LLC, specializes in disposing
of surplus retail real estate. During the past three years, DJM has disposed of
or restructured over 120,000,000 square feet of space.
About FAO, Inc.
FAO, Inc. owns a family of high quality, developmental, educational and care
brands for infants, toddlers and children and is a leader in children's
specialty retailing. FAO, Inc. owns and operates the renowned children's toy
retailer FAO Schwarz(R); The Right Start(R), the leading specialty retailer of
developmental, educational and care products for infants and toddlers; and Zany
Brainy(R), the leading retailer of developmental toys and educational products
for kids.
For additional information on FAO, Inc. or its family of brands, visit online at
http://www.irconnect.com/faoo/.
This press release may contain certain forward-looking statements with respect
to the implementation and anticipated results of FAO, Inc.'s business strategy,
and the financial condition, results of operations and business of FAO, Inc.,
that are subject to certain risks and uncertainties that could cause actual
results to differ materially from those set forth in such statements.
DATASOURCE: DJM Asset Management, LLC
CONTACT: Jim Avallone of DJM Asset Management, LLC, +1-631-752-1100