<ARTICLE> 5
<LEGEND>
Note:  This schedule contains summary financial information extracted from the
Form 10-Q for the quarter ended March 31, 1997 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0001029310
<NAME> GULF STATE CREDIT, L.P.
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                          35,110
<SECURITIES>                                         0
<RECEIVABLES>                                   22,028
<ALLOWANCES>                                     1,186
<INVENTORY>                                     68,658
<CURRENT-ASSETS>                               106,105
<PP&E>                                          87,561
<DEPRECIATION>                                  52,448
<TOTAL-ASSETS>                                 351,654
<CURRENT-LIABILITIES>                           68,519
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                     11,249
<COMMON>                                            53
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                   351,654
<SALES>                                              0
<TOTAL-REVENUES>                                63,842
<CGS>                                                0
<TOTAL-COSTS>                                   68,596
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               6,523
<INCOME-PRETAX>                               (11,277)
<INCOME-TAX>                                   (3,496)
<INCOME-CONTINUING>                            (7,781)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (7,781)
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0