After three months of complex dealing, a giant new corporation shouldered its way last week into the top ranks of low-priced specialty chain stores. The new company, the McCrory Corp., was formed from three chains—the B.T.L. holding company (a corporate shell of the Butler Brothers variety chain), United Stores Corp., and the McCrory-McLellan Stores Corp. With 461 stores, the new company will rank fourth among U.S. low-priced chains (first three: F. W. Woolworth, W. T. Grant, S. S. Kresge). The man who masterminded the merger is Meshulam Riklis, 36, who in only nine years has risen from a part-time,...

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