TG&Y
| Company type | Private |
|---|---|
| Industry | Retail |
| Founded | 1935 |
| Founder | Rawdon E. Tomlinson, Enoch L. "Les" Gosselin, Raymond A. Young |
| Defunct | 2002 |
| Fate | Liquidated by McCrory Stores |
| Headquarters | Oklahoma City , United States |
Area served | United States (29 states at peak) |
Key people | Raymond A. Young (until 1970) |
| Products | Variety store goods, including groceries and pharmaceuticals (Family Center concept) |
Number of employees | Over 8,000 (jobs cut in 1986) |
| Parent | McCrory Stores (from 1986) |
TG&Y was a variety store chain operating in the United States, known for its five and dime format, with a presence of over 900 outlets spanning 29 states at its zenith. Established in 1935 amid the Great Depression, it transitioned from rural general stores into a leading retail chain within southern regions. The company's motto, "Your best buy is at TG&Y," encapsulated its commitment to providing customers with desired products at competitive prices.
History
Based in Oklahoma City, TG&Y derived its name from its founders Rawdon E. Tomlinson, Enoch L. "Les" Gosselin, and Raymond A. Young, who merged their individual Oklahoma variety stores into a partnership in 1935. They created Central Merchandising Corporation to procure goods directly from manufacturers, thereby lowering expenses and enhancing profit margins. The first jointly owned TG&Y store debuted in 1936. Raymond Young oversaw company operations until his retirement in 1970.
By 1957, the chain expanded to 125 locations when Chicago’s Butler Brothers acquired it, initially keeping Young in charge. By 1960, TG&Y became part of City Products Corporation, which launched the TG&Y Family Center concept—a large-format store featuring expanded grocery and pharmaceutical sections intended to act as anchor tenants within shopping centers. This development aligned with industry shifts led by competitors such as Woolworth's Woolco and Kmart.
In 1965, Household Finance Corporation (HFC) purchased City Products, incorporating TG&Y into a portfolio that included Coast to Coast Hardware and Ben Franklin stores. HFC pursued an aggressive national rollout of the Family Center concept, favoring larger stores over smaller variety outlets. Notably, entrepreneur David Green departed TG&Y in 1975 to establish what would become Hobby Lobby.
By 1986, with a network exceeding 700 stores, TG&Y was acquired by rival McCrory Stores, itself under Rapid-American Corporation controlled by investor Meshulam Riklis. Initially operated as an independent subsidiary headquartered in Oklahoma City, TG&Y’s functions were ultimately merged into McCrory's restructuring initiatives, which contributed to its decline.
At its peak, TG&Y managed close to 1,000 stores across 29 states, catering to various regional markets through a diverse product assortment and a well-established value-oriented retail approach.
Demise
Following its peak period in the 1960s, TG&Y faced challenges in growth and rebranding efforts under banners such as TG&Y Dollar, Aim for the Best, and Dollar-T. By 1981, confronted with fierce competition from Walmart and Kmart, the company began shutting down many large Family Center locations while concentrating on modernizing stores in less competitive areas. Larger urban outlets ranging from 30,000 to 40,000 square feet were among the earliest closures due to difficulty competing with bigger rivals.
In March 1986, McCrory announced intentions to divest approximately 200 of the 743 recently acquired TG&Y stores. Subsequent to the acquisition, McCrory eliminated more than 8,000 TG&Y jobs and closed 205 stores, including 23 within Oklahoma. McCrory filed for Chapter 11 bankruptcy protection in 1992, prompting additional closures across its holdings such as TG&Y, Kresge, and J.J. Newberry locations. Between 1992 and 1997, during bankruptcy restructuring efforts, McCrory shuttered around 600 outlets, leaving fewer than 200 operational.
In 2001, McCrory declared it would liquidate all remaining brands—Dollar Zone, McCrory, G.C. Murphy, J.J. Newberry, and TG&Y—with closures completed by February 2002. That same year marked the death of Raymond Young, the youngest surviving founder of the company.
Legacy
In January 2014, the Chisholm Trail Museum located in Kingfisher, Oklahoma—site of a TG&Y outlet since 1927—featured a popular exhibition commemorating the history of TG&Y. Initially scheduled to run through March, the display was extended until August due to enthusiastic interest from more than a thousand former employees spanning multiple states. This exhibit was eventually made a permanent fixture and received the Leadership in History Award of Merit from the American Association for State and Local History.
In January 2003, Tom Clinton, a former TG&Y manager, attempted to revive the brand by launching a new store in Sapulpa, Oklahoma. After securing the rights to the TG&Y name and acquiring a former Drug Warehouse building measuring 12,000 square feet, Clinton’s store offered an assortment of crafts and household items alongside groceries, toys, pet products, stationery, tools, and health-related merchandise. Despite this effort, the brand revival was brief.
See also
External links
- TG&Y Images (Google images)
- Articles with short description
- Five and dimes
- Defunct discount stores of the United States
- Retail companies established in 1935
- Retail companies disestablished in 2002
- Companies that filed for Chapter 11 bankruptcy in 1992
- McCrory Stores
- 1935 establishments in Oklahoma
- 2002 disestablishments in Pennsylvania
- 4
- Companies of the United States by year of establishment