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 14th 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 11th 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