Toys ‘R’ Us founder Charles Lazarus dies one week after company announced the shutting down of all its UK stores

Charles Lazarus, 94, who founded Toys ‘R’ Us in 1957 has died on Thursday in New York.

Toys ‘R’ Us Inc. said: “There have been many sad moments for Toys ‘R’ Us in recent weeks, and none more heart-breaking than today’s news about the passing of our beloved founder, Charles Lazarus, after a period of declining health.”

In 1994 Mr Lazarus who was a World War ll veteran, stepped down as CEO of Toys ‘R’ Us.

A spokesperson for the company commended Mr Lazarus for his ‘Positive energy’, ‘passion for customers’ and his ‘love for children everywhere’.

The company announced it would close all its 100 stores on March 14^th 2018, after struggling to find a buyer and failed last-minute rescue talks.

More than 3,000 people are expected to be made redundant as a result of the closures.

Toys ‘R’ Us went into administration with an outstanding £15million tax bill, it launched nationwide closing down sale to raise funds.

The Birmingham store on Coventry Road, is amongst 25 stores partaking in the closing down sale officially closed on Sunday 11^th March.

Toys ‘R’ Us is one of many UK retail stores shutting down due to a mixture of rising inflation, a reduction in customer spending and a rise in online shopping.

 

List of 25 stores which have announced closing dates:

Aberdeen – Wednesday 14th March

Basingstoke – Wednesday 7th March

Belfast – Tuesday 13th March

Birmingham – Sunday 11th March

Bolton – Thursday 15th March

Bradford – Thursday 15th March

Brislington – Tuesday 13th March

Cambridge – Saturday 10th March

Cardiff – Thursday 15th March

Derry City – Monday 12th March

Doncaster – Saturday 10th March

East Kilbride – Sunday 11th March

Exeter – Friday 9th March

Hayes – Wednesday 7th March

Kirkcaldy – Monday 12th March

Leicester – Saturday 10th March

Livingston – Tuesday 13th March

Old Kent Road – Thursday 8th March

Plymouth – Friday 9th March

Scunthorpe – Friday 9th March

Shrewsbury – Monday 12th March

Tamworth – Friday 9th March

Tunbridge Wells – Thursday 8th March

Watford – Saturday 10th March

York – Monday 12th March