Toys 'R' Us founder dies the day the company begins liquidation sales
It's only been a week since Toys 'R' Us announced it would close all of its stores, but heartbreak has hit the shelves again. Toys 'R' Us founder Charles Lazarus died Thursday, the company confirmed. He was 94.
Former CEO Michael Goldstein took over the company from Lazarus in 1994, but told CNN Money that Lazarus' legacy as "the father of the toy business" lived on.
Lazarus got the idea for Toys 'R' Us as he returned from World War II, per USA Today. His friends were ready to start families, and he soon envisioned superstores stocked to the ceiling with toys. The company's name was a pun on Lazarus' last name, while the iconic backwards "R" mimicked a child's handwriting.
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Toys 'R' Us thrived through the baby boom and hit its peak in the 1980s, per CNN Money, but the arrivals of Walmart and online behemoth Amazon eventually took their toll. Liquidation sales were scheduled to begin Thursday.
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Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
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