Grant, W(illiam) T(homas) (1876-1972)

US entrepreneur and founder of the W T Grant's retail empire. He opened his first store in Lynn, Massachusetts, in 1906 with 21 departments, all selling items for 25 cents or less, and with himself controlling all the buying. The venture an immediate success; by 1908 he had expanded to Connecticut, and by 1913 to New York City. In 1917 he had 30 stores and topped prices at $1. He went public in 1928, and in 1940 he had stores in 44 states and no limit on prices. He resigned as chairman of the board in 1966. In 1975, three years after his death, his company made retail history by filing for bankruptcy.

Grant was born in Stevensville, Pennsylvania. His family moved to Massachusetts, where he had several jobs including a brief stint as a prize fight promoter and a period clerking in a retail store, from which he derived inspiration for his own business venture. In 1936 he established the Grant Foundation for children.