FAO Schwarz, the oldest toy store in the United States, is closing its flagship store in Manhattan and The Muppet Whatnot Workshop along with it!
The reason: rising rent prices. The popular tourist destination has three-levels consisting of 45,000 square foot space, in prime Fifth Avenue real estate.
The much-loved store has made cameos in multiple movies, most notably the 1988 movie "Big" starring Tom Hanks.
The iconic store will shut its doors on July 15.
Toys "R" Us, which acquired FAO Schwarz in 2009, is also closing it's Times Square flagship store due to increasing rent costs.
The good news is that both retailers are actively looking for new spaces to reopen. Here's hoping FAO brings The Muppet Whatnot Workshop to their new location!
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