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FAO, Inc. (Nasdaq: FAOO), announced today that it expected to file voluntary petitions later this week under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware for itself and its operating subsidiaries ZB Company, Inc. and FAO Schwarz, Inc. The Company said that the purpose of the filing was to allow it to sell its FAO Schwarz and The Right Start businesses and assets and to liquidate its Zany Brainy business (including leases) in an orderly manner.
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