Chief
12-10-2007, 04:58 PM
http://www.spokesmanreview.com/breaking/story.asp?ID=12714
DALLAS — Consumer electronics retailer CompUSA said Friday it will close its store operations after the holidays following sale of the company to Gordon Brothers Group LLC, a restructuring firm. Financial terms weren’t disclosed.
CompUSA operates 103 stores that plan to run store-closing sales during the holidays. CompUSA has one Spokane store, 808 N. Ruby St.
Privately held CompUSA, controlled by Mexican financier Carlos Slim Helu’s Grupo Carso SA, said discussions were under way to sell certain stores in key markets. Stores that can’t be sold will be closed.
Gordon Brothers also will try to sell the company’s technical services business, CompUSA TechPro, and online business, CompUSA.com. It would be up to the buyers whether to continue the CompUSA name.
Dallas-based CompUSA has struggled for nearly a decade with falling prices on personal computers, its most important product, and competition from big-box retailers such as Best Buy.
**SCHNIPP**
At one time CompUSA was the place to go for Computers, but almost as soon as they peaked, they started a decline that they never recovered from. It speaks well for the wide availablility of inexpensive computers in the retail markets...
DALLAS — Consumer electronics retailer CompUSA said Friday it will close its store operations after the holidays following sale of the company to Gordon Brothers Group LLC, a restructuring firm. Financial terms weren’t disclosed.
CompUSA operates 103 stores that plan to run store-closing sales during the holidays. CompUSA has one Spokane store, 808 N. Ruby St.
Privately held CompUSA, controlled by Mexican financier Carlos Slim Helu’s Grupo Carso SA, said discussions were under way to sell certain stores in key markets. Stores that can’t be sold will be closed.
Gordon Brothers also will try to sell the company’s technical services business, CompUSA TechPro, and online business, CompUSA.com. It would be up to the buyers whether to continue the CompUSA name.
Dallas-based CompUSA has struggled for nearly a decade with falling prices on personal computers, its most important product, and competition from big-box retailers such as Best Buy.
**SCHNIPP**
At one time CompUSA was the place to go for Computers, but almost as soon as they peaked, they started a decline that they never recovered from. It speaks well for the wide availablility of inexpensive computers in the retail markets...