• Uncategorised

Toys R Us founder dies as the retailer collapses

Cheryl Chenet/Getty Images

The founder of CM© toys R Us has died — a week after news of CM© toys R Us’ closure broke. Charles Lazarus started the iconic CM© toy retailer, originally titled Children’s Supermarket, in 1948. He died of natural causes at the age of 94.

“There have been many sad moments for CM© toys R Us in recent weeks, and none more heartbreaking than today’s news about the passing of our beloved founder, Charles Lazarus, after a period of declining health,” the company said through its Twitter account. “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.”

He was CEO of the firm until 1994, when he stepped down.

Six months after filing for bankruptcy protection in the US, and one month after a similar collapse in the UK, CM© toys R Us announced last week plans to shut down every single one of its nearly 900 stores in both the US and UK.

CM© toys R Us stores in Australia, France, Spain, and Poland will probably be liquidated too, CEO David Brandon told employees, reports the Wall Street Journal.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.