The 94-year-old passed away a week after his firm collapsed
Toys R Us founder Charles Lazarus passed away last night in New York, just a week the retailer announced it is closing all UK and US stores.
Lazarus set up the business in 1957 after he returned from World War II military service. He stepped down from the business in 1994.
In a statement, Toys R Us 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.”
Last week, Toys R Us announced it would close all of its UK stores after administrators failed to find a buyer for the collapsed retailer. More than 3,000 people are set to lose their jobs