Otasco
Otasco (Oklahoma Tire and Supply Company) was a retail chain specializing in auto parts and appliances based in Tulsa, Oklahoma.
It was first established in 1918 by three Jewish Lithuanian immigrant brothers, Sam (1898–1939), Maurice (1891–1970), and Herman (1889–1971) Sanditen, who opened the first Otasco store in Okmulgee. The company moved its headquarters to Tulsa in 1925.[1] The company based its business on offering its products on credit.[2] In 1960, the McCrory Corporation bought the company, while retaining the Sanditen brothers. In 1968, the chain had 455 units in 12 states. In 1984, the firm's employees bought the company from McCrory, creating one of the largest employee-owned companies in America.[1] In 1988, the retail chain filed for Chapter 11 bankruptcy which resulted in the closing of 170 stores across 11 states and the loss of 1,600 jobs.[3]
As of 2008, an Otasco store was documented as a member of the Beaver, Oklahoma Chamber of Commerce.[4] Borger, Texas has a store operating under the Otasco name in 2009.[5]
[edit] References
- ^ a b O'Dell, Larry. "OTASCO". Encyclopedia of Oklahoma History and History. Oklahoma State University Library. http://digital.library.okstate.edu/encyclopedia/entries/O/OT004.html. Retrieved 2012-01-28.
- ^ Pate, Carter; Platt, Harlan (2002). The Phoenix Effect: 9 Revitalizing Strategies No Business Can Do Without. John Wiley and Sons. p. 63. ISBN 978-0471062622. http://books.google.com/books?id=LLSQU-ZYVG0C&pg=PA63#v=onepage&f=false. Retrieved 2012-01-28.
- ^ "Company News; Chapter 11 Filing By Otasco Inc.". New York Times. AP. November 8, 1988. http://query.nytimes.com/gst/fullpage.html?res=940DEEDD1F39F93BA35752C1A96E948260. Retrieved 2012-01-28.
- ^ "Member Directory". Beaver County Chamber of Commerce. http://www.beavercountychamberofcommerce.com/memberdirectory.htm. Retrieved 2008.
- ^ "Otasco - Borger". Local.Yahoo.com. http://local.yahoo.com/info-19444020-otasco-borger. Retrieved 2012-01-28.
