It's not looking to good for Toys R Us 1st the whole bankruptcy and now as the Company Heads To Liquidation Charles Lazarus, the founder of Toys “R” Us died Thursday just days after the company announced it will be closing all of its U.S. stores.

Although 94, he 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 the CEO until 1994.

The current CEO Michael Goldstein said:

“He was the father of the toy business,” “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.”

The actually company wrote in a statement that:

"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.”