Toys R Us founder Charles Lazarus died Thursday at the age of 94.
His death comes just a week after the company, burdened by billions in debt, announcedit would shut down all its U.S. locations.
Now known as the "toy king," Lazarus started Toys R Us 70 years ago in anticipation of the baby boom following World War II. It started as a baby furniture store.
Toys R Us released a statement Thursday that said: "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. Our thoughts and prayers are with Charles' family and loved ones."
