The low number of defaults on small loans at this time meant that the credit arrangements seemed a good idea, but the absence of any credit check, and the low minimum repayment terms were extreme, even for the times. When the economic expansion slowed in 1970/1971 the balance shifted and the credit arrangement became more of a liability than an asset. No decision was made to change or halt this before 1974, by which time the company's collapse was a certainty. References External links W.T. Grant Foundation website W. T. Grant Annual Reports (1919-1974), Internet Archive Grant, W.T. Grant, W.T. Defunct discount stores of the United States Grant, W.T. 1906 establishments in Massachusetts 1976 disestablishments in Massachusetts American companies disestablished in 1976 Companies that filed for Chapter 11 bankruptcy in 1976