Founder of Toys ‘R’ Us Charles Lazarus Found Dead After Announcing They Are Closing All Their Stores

The founder of Toys ‘R’ Us passed away today after the company announced that they will be closing all of their stores.

Charles Lazarus died this morning at the age of 94 according to  MSN. He started the company in 1948 when he was 25 years old. He got the idea to sell toys because he felt that the supply and demand would rise for post-war baby boom per CNN.

The company filed for Chapter 11 bankruptcy in September 2017 and last week decided to sell all the stores in the U.S, then worldwide. With the competition of Amazon, Walmart and Target, the company was conducting “an orderly wind-down of its U.S. business”.  Toys ‘R’ Us has 735 stores in the U.S, the most out of all the countries