In 1972, Gibson transferred ownership of the company to sons Herbert Jr. and Gerald.

[5] Gibson's was sold in June 1984 to a company headed by Gary Chaffin.

Chaffin repurchased the company in 1999, which by this time was headquartered in Dodge City, Kansas.

[6] In November 2002, Gibson's announced it would close the chain's 17 remaining stores.

[8] At one point in time, the Gibson's store in Great Bend, Kansas had what was called “The Biggest Outdoor Sign in Kansas.”[9] In the early 2020s the former Grand Prairie, Texas Gibson’s discount center location was demolished and was re-developed as Gibson apartment named in honor of the former location and also the huge Gibson discount center sign was restored to its former glory.