CompUSA to close more than half their stores; 126 U.S. locations to close within 90 days

Mac Daily News ^ | February 28, 2007

[HAL9000]

Excerpt -

As part of its plan to realign the organization, CompUSA has announced a comprehensive strategy to improve the company's financial status. The realignment includes a cash infusion, store closures, major expense reductions and a corporate restructuring.

As part of CompUSA's realignment strategy, the company will receive a $440 million cash capital infusion. The financial boost will be designated to improve the company's balance sheet.

"Based on changing conditions in the consumer retail electronics market, the company identified the need to close and sell stores with low performance or non strategic, old store layouts and locations faced with market saturation. The process began last week with the closing of four CompUSA stores and over the next 60-90 days, the company will close a total of 126 stores in the United States to focus on initiatives that enhance its top performing locations," said Roman Ross, chief executive officer, CompUSA, in the press release.

CompUSA says these moves will allow the company to focus its efforts and ensure a strong presence in its 103 stores in 39 states and Puerto Rico.

[theDentist]

I don’t know if this is related, but the CompUSA website, www.compusa.com server is down for 2 days now... (tried accessing it from 3 different PCs in 2 different locations).

[MarkL]

I'm wondering too... any going out of business blow-out sales??? I'd love to have a laptop, and a wireless router, and....

Don't hold your breath... They just move the stock to stores that aren't closing.

Mark

[MarkL]

2 GB Flash Drive, $15.99. They’ve also got 2GB SD cards for the same price.

http://www.microcenter.com/single_product_results.phtml?product_id=0250132

[fso301]

yeah, a colleague came into my office this week and showed me a 512 MB thumb drive, literally the size of your thumb, that she got from Target for $12.99 .

I just got a Sandisk 1 Gig thumb drive at Office Depot for $9 last week.

[MarkL]

Does anyone still go to computer and electronics stores?

YES! I shouldn't be allowed in a Microcenter without a responsible adult!

Mark

[HamiltonJay]

Compusa was ALWAYS a second tier player... The fact they are so large to begin with just shows that investors have more cash than they know what to do with IMHO.

I’m no fan of Best Buy myself either, in fact I can’t think of a single tech/entertainment retailer that I’m impressed with.

Big Box retailing of tech stuff just doesn’t seem to work. Prices are always too high and sales staff is always unknowlegable and undertrained.

[tcrlaf]

All Atlanta, ALL Chicago Area (Rockford will be closest), 1 of 2 Indy Stores...

[CodeToad]

CompUSA...losy store anyway.