It was a sad day for many when the news came out that Toys "R" Us would be going out of business and closing their stores.

Now, another retailer is taking advantage of the demise of Toys "R" Us and are buying some of the old brick and mortar stores, and leasing some of the others.

That retailer is Ollie's Bargain Outlet.

According to cnn.com, the discount retail chain is planning to open 650 new stores across America. If you are not already aware, Ollie's Bargain Outlet, whose slogan is "Good Stuff Cheap", features closeout merchandise and excess inventory. Everything from housewares to electronics, food, flooring, toys and more. The stores have been seeing a growth in popularity recently.

Not sure how this will affect the former Toys "R" Us locations in the Lansing area. There is currently an Ollie's Bargain Outlet that operates at 800 South Waverly Road.

Get more details about the story here from cnn.com.