E-Z Serve Corporation

E-Z Serve Corporation operates convenience stores, mini marts and gas marts. The company retails motor fuels through its convenience stores and retail outlets. The company's convenience stores carries on retail merchandising of traditional grocery and non-grocery product lines. The products sold at these stores consists of tobacco products, salty snacks, candy, publications and dairy products. The company adopted a plan to divest itself from its convenience stores and marketer operations. 201 convenience stores were sold or closed as a result of this plan. During the year 1997, the company sold the capital stock of its wholly owned subsidiary E-Z Serve Petroleum Marketing Company(EZPET). Motor fuels accounted for 51% of 97 revenues and convenience store, 49%.