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CompUSA to Close All Stores After the Holiday Season
Written by Daniel   
Saturday, 08 December 2007 12:15
Massive losses and stiff competition lead to a battered and broken CompUSA
Brandon Hill (Blog) - December 8, 2007 12:14 PM

Rumors of CompUSA's demise have been running around the Internet for the past couple of days, but official confirmation has finally come down from the top. The company announced yesterday that it was acquired by an investment firm and that all of the company's businesses and assets would be sold.

Under the terms of the deal, ownership of CompUSA will be transferred from Mexican billionaire Carlos Slim to the Gordon Brothers Group. "An orderly and expedited wind-down and asset sale process is the best option for CompUSA and its creditors at this juncture," said Bill Weinstein of the Gordon Brothers Group.

"We worked long and hard with Gordon Brothers Group to achieve a business solution that maximizes CompUSA's assets," said CompUSA CEO Roman Ross.

According to Bloomberg, the Dallas-based company has courted Circuit City, Micro Electronics and Systemax to purchase closing retail locations and acquire business operations including CompUSA TechPro, and CompUSA’s technical services division.... More    Comments in the Forums

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