Posted on 03/22/2018 3:21:47 PM PDT by Morgana
Charles Lazarus, who founded Toys "R" Us 70 years ago, died Thursday, a week after the company announced it will be forced to shut down its U.S. operations.
Lazarus, 94, no longer held a stake in the chain. He started the company in 1948 when he was 25, anticipating that the post-war baby boom would create demand for baby supplies and toys. He remained CEO until 1994.
"He was the father of the toy business," said Michael Goldstein, who succeed him as CEO. "He knew the toys and loved the toys and loved the kids who would shop in the stores. His face lit up when he watched kids playing with toys."
His death was confirmed by the company.
(Excerpt) Read more at money.cnn.com ...
Good that he died. Before his company died.
I wonder if he was cognizant about the recent developments, hope not.
Do you think he’ll be coming back to life in time for the bankrupcy hearings?
There used to be a chain of department stores in Columbus, Ohio during the 70’s called Lazarus. Their main competition was a store called The Union. On level with Macy’s of today. Maybe he was a distant relation of that business family.
These things are linked.
Like people dying around Christmas or anniversaries very ill and very old people frequently choose a moent of passage.
RIP and sorry about your company. You were a part of 3 generations (Boomer parents, Gen X kids/parents and Millennial kids).
Pretty darn good.
What will become of the iconic Toys”R”Us in Manhattan? It’s almost a historical landmark.
There are a lot of Toys R Us gift cards out there. Time to use them.
Well, he likely died _because_ his company was sent to hospice.
I hope someone told him about this before he passed:
https://www.foxbusiness.com/features/toys-r-us-rescued-billionaires-quest-to-save-iconic-retailer
Hmm, did they have a large prepaid key man insurance policy on him left over from his days in charge? Was his sudden death a financial benefit to anyone?
RIP.
I see what you did there...
Good that he died. Before his company died.
Killed by Bain Capital and the other robber barons that destroyed his company.
My Dad worked for (but didn’t found) a major company for 40+ years.The company collapsed about 2 years before he died...the news broke his heart.
You’re thinking of FAO Schwartz and it closed years ago.
Charles Lazarus, bought a department store chain called Interstate (the holding company of White Front and Topps), which helped build Toys R us...
Yeah?
Not how I heard it.
I understood Toys R Us died because...
1. Their demographic base was gone. No more baby boomers and millennials.
2. Amazon. Why pay more for at TRU, when online is the only way to buy these days?
3. Abortion. Ironic, huh? TRU supported Planned UNParenthood. A group devoted to fewer children. Fewer children (56 million fewer) must have had an awful cost to the toy industry.
Dude...
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