Charles Lazarus was the founder of "Toys R Us" and has passed away on Thursday, according to the company. He was 94 years old.
Currently, "Toys R Us" is heading towards Chapter 11, however, Lazarus left "Toys R Us" 20 years ago. Lazarus died a week after "Toys R Us" announced their Bankruptcy filings.
Lazarus started this company back in 1948 when he was only 25 years old. He remained the CEO until 1994.
"He was the father of the toy business," said Michael Goldstein, CEO for the company. "He knew the toys and loved the toys and loved the kids who would shop in the stores. His face lit up when he watched kids playing with toys."
In 1948, Lazarus returned home from World War II, and all of his war buddies were excited to settle down and get married. He said that his instincts told him to open a baby store full of the necessities from cribs, to carriages, to bassinets.
This empire he built focusing on the "Toys R Us kids" is now failing and heading towards bankruptcy.
Please keep his family in your prayers during this difficult time. In other news, popular 1980s actor was in a coma for 35 years has died.