CompUSA Acquired By Tiger Direct's Owner

[Kristijntje]

Consumer electronics retailer CompUSA said Friday that it will go out of business after the holidays following sale of the company to Gordon Brothers Group LLC, a restructuring firm. Financial terms weren't disclosed.

CompUSA of Dallas operates 103 stores, which plan to run store-closing sales during the holidays.

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...

full article: http://www.sfgate.com/cgi-bin/article.cg...ETQI3S.DTL

[amy]

One less competitor.

[mandy]

Update: TigerDirect to acquire CompUSA

Rather than disappearing from the retail scene, CompUSA.com will evolve into a broader e-commerce site with an improved shopping experience and an extended line of consumer electronics, according to Systemax Inc., which expects to close this quarter on its planned purchase of the troubled retailer...

The transaction follows about a month after CompUSA’s December sale for an undisclosed amount to Gordon Brothers Group LLC, a Boston investment banking firm that specializes in retailing liquidations, asset management and corporate turnarounds. At the time CompUSA planned to close all but the most profitable of top performers among its network of 104 stores...

full article: http://www.internetretailer.com/article.asp?id=25222