W. T. Grant's Failure

W. T. Grant was once one of the largest retailers in US who differentiate itself as a low cost urban chain store. However, as the competitive environment within the industry changed, W.T. quickly altered its corporate strategy, which eventually brought them into bankruptcy and liquidation in1975. Basically, the fatal factors that led to Grant’s failure could be summarized as follows：
• Extension of credit to customers
Apparently, Extension of store credit is the major reason that influences Grant’s financial condition. Probably, the setup of this credit system is just a corporate strategy that aims to attract more customers, especially when Grant was rapidly expanding its new retail stores into suburban areas. However, Grant set the rule