Toys ‘R’ Us Founder Charles Lazarus Dies At 94

Toys “R” Us founder Charles Lazarus has passed away at the age of 94, the company confirmed in a tweet on Thursday, March 22.

See tweet below:

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.

— ToysRUs (@ToysRUs) March 22, 2018

His death comes just one week after the company announced it will be shutting down its U.S. and UK operations, after filing for bankruptcy at the end of last year.

In an official statement the company said:

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, after a period of declining health. He visited us in New Jersey just last year and we will forever be grateful for his positive energy, passion for the customer and love for children everywhere. Our thoughts and prayers are with Charles’ family and loved ones.

Charles started the company in 1948 when he was 25 years old in anticipation of the baby boom, and remained the CEO until 1994.