Scotty's Sold To Management

A management team led by ceo and president Tom Morris has purchased Scotty's, Winter Haven, Fl., from the GIB Group of Belgium, which has owned the chain since 1989.

While Morris would not reveal details of the purchase, he did say that Congress Financial will provide most of the financing to purchase the company's stock, retire $30 million in outstanding debentures, and provide oper- ating capital on an ongoing basis.

Top managers remain Monis, who joined Scotty's in 1993 after 22 years with Sears Roebuck & Co., and chief financial officer Bob Pacos, who came to Scotty's two years ago after a career with Handy Andy and Grossman's.

The 74-year-old company operates more than 150 stores in Florida. Georgia and Alabama.

Payless Cashways Banks Future On Pros

Payless Cashways, with over $l billion each in annual sales to both pros and consumers, has refocused to predominantly pursue the pro market.

"However," noted acting c.e.o. Donald E. Roller, "we will continue to serve the consumer in markets where it is beneficial to the enterprise. In other markets, we will serve the consumer segment selectively to the extent that their needs align with the needs of our target customer, the professional. As we move forward. it is clear that the professional customer will provide the future growth for Payless Cashways."

During a recent strategy review, the company thoroughly analyzed each store and market. As a result, stores will be consolidated in Louisville, Ky., from four units to three; Cincinnati, Oh., from eight to seven, and Phoenix, Az., from five to four.

The closings should be transparent to pros served by those yards because their contractor sales representatives are expected to remain the same. The Kansas City, Mo.-based company currently operates 165 Payless Cashways, Furrow, Lumberjack, Hugh M. Woods, Knox Lumber and Contractor Supply locations in 20 states.

no small thing."

- Sir Henry Royce,

B.C. Giant Ending Clearcuts

MacMillan Bloedel. Canada's largest timber company, intends to phase out clearcutting in old growth forests over the next five years. The company will establish three stewardship zones, which set the intensity of logging, and utilize variable retention harvesting, which protects biodiversity by retaining portions of the original forest in various size stands and clusters.

"At MB, this is the future of forestry," said pres. Tom Stephens. "It reflects what our customers are telling us about the need for certified products, but equally important, it reflects changing social values and new knowledge about forest ecology."