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CompUSA bought out, to shutter stores

updated 09:35 pm EST, Fri December 7, 2007

CompUSA bought out

Troubled electronics retailer CompUSA today said it has been sold to investment firm Gordon Brothers Group, ending a significant component of the company's business. The plan will see CompUSA sell off some of its physical stores as well as its company website and its TechPro technical support service. The 103 stores that have remained since the company's previous round of closures will remain open until the end of the holiday season. Key Gordon Brothers Group principal Bill Weinstein will take over from current CompUSA headman Roman Ross as part of the deal.

None of the financial terms have been revealed by either firm.

The further shrinking of the company comes in the wake of generally poor performance against larger firms such as Best Buy, whose size and emphasis have undermined CompUSA's ability to compete. Reports from former retail staff also point to conflicted approaches to store policy, with the company repeatedly changing the terms of both in-store warranties and employee sales commissions. Gordon Brothers has not said when it expects CompUSA to return to a healthy state.




by MacNN Staff

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Comments

  1. Paul Huang

    Joined: Dec 1969

    0

    Good riddance

    From the competition stand point, it's not a good thing, but good riddance, nevertheless.

  1. lysolman

    Joined: Dec 1969

    0

    I like CompUSA

    Dude, s**** you.

    I like CompUSA, it was the only place to find some things. You go run to BestBuy right quick and try to find a ribbon cable that broke in your external firewire enclosure.

    Oh, and f*** Microcenter too.

  1. phillymjs

    Joined: Dec 1969

    0

    hey, hey, hey...

    ...GOOD-BYE!

    CompUSA was c***. Buying stuff there was like buying aspirin at 7-Eleven... you paid out the a** for the convenience. I only ever used them if I needed something immediately and someone else was paying.

    Before the first bloodletting, there was a CompUSA 20 minutes away from my house, but if I needed something for myself quicker than NewEgg could get it to me, I'd drive an hour to the local Micro Center.

  1. Terrin

    Joined: Dec 1969

    0

    Too Bad

    Around me, CompUSA was the only to go to buy Mac software. It also was the only place to go if you wanted a decent deal on various things such as cables (yes, I know you could buy cheaper online). Also the Apple Store in Store concept was nicely done when compared to the former experience at places like Best Buy, Circuit City and Sears. In fact, I think CompUSA's stores played an important role in helping save Apple.

  1. OkieDoc

    Joined: Dec 1969

    0

    which stores?

    Are all of the stores closing? Is there a list of stores to be closed somewhere?

  1. adrian_milliner

    Joined: Dec 1969

    0

    you still buy...

    ...stuff from bricks-and-mortar stores in the US?

    how quaint.

  1. yakirz

    Joined: Dec 1969

    0

    Can't say I'll miss them

    in general, but it was the only Mac retailer in town.

    I didn't buy much more than an occasional peripheral, and in general the staff sucked. I guess I'll have to drive a couple hours to the closest Apple Store to drool now.

  1. CadetStimpy

    Joined: Dec 1969

    0

    A lesson to be learned...

    The lesson to be learned in all of this... Crappy service, employees who know nothing about the products they sell, and ridiculously high prices along with a exceptionally difficult return policy don't tend to help you stay in business.

    Let this be a lesson to all of the other major retailers. s**** your customers, and we start to shop online - and you eventually go out of business.

    I won't miss 'em. Good riddance.

  1. Dalhectar

    Joined: Dec 1969

    0

    Firesale

    So when does the clearance sale begin?

  1. chotty

    Joined: Dec 1969

    0

    CompUSA

    Where America Buys Technology... At Inflated Prices. RIP. *The term is "BRICK and Mortar" and yes, we still buy "stuff" in them in the USA. We also have another "quaint" custom... we BATHE.

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