Another One Bites The Dust
12.13.2007
DL.TV
reports that CompUSA is closing it's doors.
In the segment in the side bar Roger Chang of DL.TV and Veronica Belmont
of Mahalo Daily
discuss the closing as well as thier opinion of other retailers in episode
208.
PCmag.com
reports:
Venerable
electronics retailer CompUSA has been sold to an affiliate of restructuring
firm Gordon Bros., and will close all of its retail stores.
CompUSA did not give a timetable for the store closings, saying only that
all 103 existing stores would remain open and staffed throughout the holiday
season . Some stores will apparently be sold to other retailers.
However, Gordon Bros. said that consumers would be offered "attractive
bargains on computer and electronic products as part of store closing
sales. As discount shoppers discovered when CompUSA closed roughly half
of its stores in March, Gordon Bros. initially raised prices, than sold
off inventory -- including shelving, lighting, and furniture -- at pennies
on the dollar.
CompUSA.com and CompTechPro will continue to be run by the company during
the sale process. CompUSA will be run by Bill Weinstein, a principal at
Gordon Brothers Group acting as interim president, and by Stephen Gray,
managing partner at restructuring firm CRG Partners, who will serve as
chief restructuring officer.
"An orderly and expedited wind-down and asset sale process is the
best option for CompUSA and its creditors at this juncture," said
Weinstein in a statement. "We are focused on assuring that CompUSA's
creditors, landlords and other key constituents are treated properly during
this process. We are working hard to achieve the maximum recovery possible
for the company's constituents while also minimizing unnecessary expenses.
We will actively communicate with the various parties and their advisors
starting today, and in the days and weeks ahead."
The Village Geek reports
"We are still here."
