Toys ‘R’ Us founder dies as company moves to shut down

Local News

FILE- In this Jan. 24, 2018, file photo, a woman enters a Toys R Us store in Paramus, N.J. Toys R Us CEO David Brandon told employees Wednesday, March 14, 2018, that the company’s plan is to liquidate all of its U.S. stores, according to an audio recording of the meeting obtained by The Associated […]

As Toys “R” Us moves to shut down stores, the man who founded the company, Charles Lazarus, has died at the age of 94.

In a tweet, the company writes, “There have been many sad moments for Toys “R” Us in recent weeks, and none more heartbreaking than today’s news about the passing of our beloved founder, Charles Lazarus. Our thoughts and prayers are with Charles’ family and loved ones.”

Toys “R” Us is set to begin liquidation sales on Friday, according to reports. However, the Associated Press reports the company’s CEO is leading an effort the save stores.

CBS News reports Lazarus first found “Children’s Bargain Town” in 1948 — a baby furniture store. Nine years later, he opened the first Toys “R” Us.

The store would end up dominating toys sales in the 1980s and 90s.

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