Otasco (Oklahoma Tires and Supplies Company) is a retail network specializing in auto parts and equipment based in Tulsa, Oklahoma.
It was first established in 1918 by three Lithuanian immigrant Jewish brothers, Sam (1898-1939), Maurice (1891-1970), and Herman (1889-1971) Sanditen, who opened Otasco's first store in Okmulgee. The company moved its headquarters to Tulsa in 1925. The company bases its business on its product offerings on credit.
In 1960, McCrory Company bought the company, while retaining the Sanditen brothers. In 1968, the chain had 455 units in 12 states. In 1984, company employees bought the company from McCrory, creating one of the largest employee-owned companies in America. In 1988, the retail chain filed for Chapter 11 bankruptcy resulting in the closure of 170 stores in 11 states and the loss of 1,600 jobs.
According to sources, the franchisee was given a 99-year license to use the name Otasco after the chain was out of business. In 2014, two Otasco stores continue to operate in Oklahoma, at Beaver and in Marlow. Borger, Texas still has stores that operate under the name Otasco in 2012. Many, Louisiana has a locally owned Otasco Associate store still in business by 2014.
Video Otasco
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Source of the article : Wikipedia
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