Indie Boutique Toy to Cease Operations

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Four-year old indie shop Toy, New York, is winding down its operations and plans to shutter its doors by late March.

The agency currently employs 10 full-time staffers and a handful of freelancers and is run by a trio of partners, Anne Bologna, Ari Merkin and David Dabill, who met while working at the defunct New York outpost of Fallon.

"Ari and David and I have always been willing to make the tough decisions, this one being the toughest," Ms. Bologna, Toy's CEO, told Advertising Age. "Though we're still profitable, together we realized that we still haven't reached the scale we'd hoped for, four years into the business. We started, ran and are now closing Toy on our own terms, which, despite its outcome, is something we are deeply proud of."

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