Technology CompUSA Closing More Than 50 Percent of Stores

The Helper

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CompUSA, the computer and gadget retailer owned by Mexican billionaire Carlos Slim, said on Tuesday it would close more than half of its U.S. retail locations over the next two to three months to focus on top performing locations.

CompUSA said in a statement it would close 126 of its stores and would receive a $440 million cash capital infusion, but it was not specific as to the source of the cash. The company also said it would cut costs and restructure.

The company operates 225 stores, which its Web site says are located in the United States and Puerto Rico.

"Based on changing conditions in the consumer retail electronics markets, the company identified the need to close and sell stores with low performance or nonstrategic, old store layouts and locations faced with market saturation," Roman Ross, chief executive officer of CompUSA, said in the statement.


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I personally stopped shopping at all stores that used Rebates as part of their sales. You can go to Wal Mart or other places and get the same stuff for the same price without dealing with stupid rebate forms. Out of the like 5 rebate forms I have filled out in my life I got my money back on maybe 1 of them.
 
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Darthfett

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I heard about this when the news came on...

They said that they were closing all of their stores in Phoenix, but the news people just HAD to say that there would still be one in Tucson! Like i'm going to drive all the way down to Tucson for that store.... -.-

Glad to see you're putting a lot more news up, TH! :D Sometimes it's nice to see what's going on.
 

The Helper

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A very old update to a very old story but it is appropriate to follow this up:

CompUSA To Close All Stores

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, 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.

Gordon Brothers will also 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.

 
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