FAO Schwarz Inc. (New York) has named Barry Erdos chief executive, effective immediately. Erdos, who served as president and chief operating officer for online retailer Bluefly Inc., succeeds Ed Schmults, who left the company on Monday to pursue other interests, according to The Wall Street Journal.
The specialty toy retailer has filed for bankruptcy twice since 2003, as it continues to fight for market share with Walmart and Target. FAO operates two stores, in New York and Las Vegas. Last year, Macy’s said it would open FAO Schwarz-branded toy boutiques in its department stores.