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The Dallas based computer retailer has been sold to a restructuring firm Gordon Brothers Group LLC, ending its 23 years operation by the end of holiday season. Compusa has struggled financially in recent years to get a significant share from its rivals such as Best Buy, Circuitcity and Dell. Stores have been shedding down to 103 from 229 units since the last announcement of the retrenchment strategy in early March. Apparently the resulting cash infusion of $440 million is not enough for restructuring.
The new owner Gordon Brothers Group will try to sell the remaining of the company assets and it would be up to future buyers if they decide to keep the Store name, ‘Compusa’. Stores will remain open with everything-must-go sign through the end of the year to get rid of inventory. Do tell your love one not to get a store warranty plan for your HDTV Christmas gift or falling for 50%-off-retail on a $65 100-Pack Spindle CD-R. FYI : They got plenty of those discounts on last out-of-business sale i’ve been to.
That’s too bad! I never went there so I won’t miss it all that much but its sad to see businesses like that get kicked out after so many years.