Yahoo News Toys R Us founder Charles Lazarus dies as company faces international collapse
The founder of Toys R Us has died days after the firm announced it would shut all 100 of its UK stores.
Charles Lazarus died aged 94 in New York on Thursday, according to reports. He opened his first Toys R Us store in 1957.
A spokesman for the toy chain 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.
"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 Wednesday Toys R Us announced it would close all of its UK stores after administrators failed to find a buyer for the collapsed retailer, resulting in the loss of 3,000 jobs.
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
The retail sector has had a dismal start to 2018, with the collapse of Toys R Us and Maplin and a host of firms undergoing painful restructurings, including New Look and eateries run by celebrity chef Jamie Oliver, as well as Byron and Prezzo.
High street chains across the board have been hit hard by falling consumer spending, soaring Brexit-fuelled inflation and competition from online rivals.
The firm also announced plans to shut down its US operations last week.
Additional reporting by the Press Association
