CompUSA Shutting Down10 Dec, 2007 By: Chris Tribbey
Retailer CompUSA will close its last 103 stores following the holiday season, the Dallas-based company announced Dec. 7, after it had been acquired by investment firm Gordon Brothers Group LLC.
Gordon Brothers Group announced it was in discussion with “various parties” regarding the sale of CompUSA's assets.
“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, a principal at Gordon Brothers Group who will act as interim president of CompUSA. “We are focused on assuring that CompUSA's creditors, landlords and other key constituents are treated properly during this process.”
“We worked long and hard with Gordon Brothers Group to achieve a business solution that maximizes CompUSA's assets,” said CompUSA CEO Roman Ross.
CompUSA, which sells electronics, software and DVDs, was founded in 1984 and previously operated stores under the Good Guys label before closing those stores in 2005.