The Toys "R" Us founder dies, liquidation sales are coming

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When the news was first announced, Larian said "there is no toy business without Toys "R" Us," and expressed interest in buying up to 400 of the company's USA stores to operate under the Toys "R" Us name.

"We will be opening in a few minutes, but I want you to know that we will not be starting the liquidation sales today", said the man who identified himself as Ricardo.

As of writing this, there has been no official explanation for why the sale was postponed.

"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", the statement said. Originally the store was called Children's Supermart, but when he expanded and opened the first toy-specific location in Maryland, he changed the name to Toys "R" Us. A company spokesman said it now hopes to begin the clearance sales as early as Friday. "You don't have to go searching for it online".

Some parents said they were disappointed about the closure of their childhood toy store, but others were upset by how little the store was willing to drop prices.

Such a long-shot move would also greatly benefit Larian's primary business.

Toys "R" Us became a retailing powerhouse internationally with stores in Spain, Canada and Singapore.

But for decades, it was Toys R Us that drove trends in child's play, becoming a launchpad for what became some of the industry's hottest toys.

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The employees of the Toys R Us in Columbus were left wondering Thursday what the future holds, some who have worked there for years.

"The donations will be used in the formulation of a bid to acquire all or some Toys "R" Us assets through the bankruptcy process", the GoFundMe page explains.

The country's former top toy retailer announced in January that it would close 182 US stores, or about one-fifth of its locations.

Lazarus is said to have transformed the toy business to being a year-round focus, rather than just at Christmas. The company filed chapter 11 bankruptcy in September, hoping for a turnaround, but after poor holiday sales threw in the towel.

"I'm very hopeful" about salvaging hundreds of the stores, Larian said. All Toys R Us locations will close soon.

The bigger toy makers, like Hasbro and Mattel, will likely have no trouble continuing sales through places like Walmart and Amazon. The new round of liquidation sales was expected to take place at hundreds of additional US stores.

Stores will accept returns on products purchased before the liquidation for the next 30 days.

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