Charles Lazarus Passed Away!

Toys R Us founder Charles Lazarus died.

It killed him. The closing of Toys R Us killed him.

Charles Lazarus passed away yesterday. He died at the age of 94 years old.

The statement from Toys R Us.

“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, after a period of declining health.”

“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,” Toys “R” Us said.

The founder of Toys R Us passed away only a few days after the toy giant filed for bankruptcy and liquidation.

The company leaving will hurt 25% of the toy industry. The tariffs imposed on China by Donald J. Trump will also cause grave effects on the retail industry..

The Toys R Us brand was founded in 1957 in New Jersey. Lazarus started the company initially as a children furniture store. He decided to add a few toys to keep children interested and the idea took off.

Toys R Us became a household brand with the famed mascot being Geoffory the Giraffe who told children that they never had to grow up.

The company sold the best toys and games. The biggest mistake the company made was the decision to go public through an investment firm called Bain Capital.

Bain stockpiled nearly $10 billion in debt for Toys R Us. The company spent years trying to paid off debtors. When they pulled in $6 billion in funds, the remaining was in the red.

Iconic mascot Geoffrey the Giraffe.

The company had to raise prices and it couldn't survive on lower prices as Walmart and Target.

It couldn't survive the delivery giant Amazon.

Children were not playing with LEGOS, Barbie, Monopoly, Transformers and Brats.

They found interest in electronics. It may have killed Toys R Us.

Now as Lazarus watched from the sidelines, he realized that the heartbreak of a company he started fades away. He couldn't take it anymore.

Now 31,000 workers are going to be out of their jobs. There is no more pension, 401K, healthcare and benefits.

Charles leaves behind two daughters and his second wife.

He will be missed like my days of childhood.