http://monthlybrands.com.pk/toys-r-us-founder-charles-lazarus-dies-94/
Toys 'R' Us founder Charles Lazarus dies at 94
Charles Lazarus, who combined supermarket-style service with touches of whimsy in creating Toys “R” Us Inc., a longtime retail success that fought high debt and fierce competition and finally succumbed just last week, has died. He was 94.
He died Thursday in Manhattan, Michael Goldstein, a close friend who was the company’s former chairman, said in a phone interview. Amy von Walter, a spokeswoman for Toys “R” Us, said the news adds to the chain’s “many sad moments” recently, but she added that the company “will forever be grateful for his positive energy, passion for the customer and love for children everywhere.”
Unable to fend off rivals while saddled with more than $5 billion in debt, the company filed for bankruptcy in September 2017 and in recent days began closing down its U.S. and U.K. operations while attempting to reorganize and sell its remaining international units. The chain includes more than 1,600 Toys “R” Us and Babies “R” Us stores in 38 countries.
From the first Toys “R” Us outlet, opened in 1957 in the Maryland suburbs near his hometown of Washington, Lazarus stuck to a winning formula of high volume, discounted prices and cookie-cutter predictability.