Say Goodbye to Compusa

[shogun323]

http://money.cnn.com/2007/12/07/technology/compusa.ap/index.htm?postversion=2007120719

CompUSA to close all of its 103 stores
The consumer electronics store will run store-closing sales during the holidays to get rid of inventory.
December 7 2007: 7:18 PM EST
DALLAS (AP) -- Consumer electronics retailer CompUSA said Friday it will close its stores after the holidays following sale of the company to an affiliate of Gordon Brothers Group, a restructuring firm.

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.

Terms of the transaction were not disclosed.

Dallas-based CompUSA has struggled for nearly a decade with falling prices on personal computers, its most important product, and competition from big-box retailers such as Best Buy (Charts, Fortune 500).

Helu took the company private in 2000. The chain went through several CEOs and tried different turnaround strategies, such as a move this year to focus on core customers such as gadget users and small-business owners.

CompUSA closed more than half its stores this spring and got a cash infusion of $440 million to restructure.

During the wind-down, Weinstein and Stephen Gray, managing partner at CRG Partners, will run the company. The chain's current chief executive, Roman Ross, will serve in an advisory role, CompUSA said.

DJM Realty, a Gordon Brothers Group affiliate, will review leases of CompUSA's store locations

[mrbones]

Goodbye Carlos Slim!

[Ida_Mann]

their prices were fairly decent for those who didn't know where else to go for parts and computer stuff, but the customer service was absolute crap.

I could get better customer service at Best Buy and that aint saying much.

Id@

[shogun323]

I never dealt with the service at Compusa. I have dealt with Best Buy's Geek Squad and I would like to strangle every one of them. They are a bunch of A+ certified punks on power trips.

I have had a business account with Compusa for the last couple of years. They have great price cuts for business accounts and gave me penney shipping. The also carry alot of enterprise level equipemnt that they'll order (not in store). They have been great. Sucks to see them go.

[Ida_Mann]

I was just referring to the counter help,,,,,I never used their service department, but just trying to check out was always a chore.

I have waited at the checkout line with noone in front of me for over 5 minutes before I was even noticed and someone would walk over to check me out.

Id@

[logandzwon]

I am sad they are going away too.  Near me we have CompUSA, Best Buy, and Circuit City.  But, CompUSA's small business reps rocked.  I could call my rep and he'd get me just about anything computer related for a great price.  I wont shop at Circuit City except as a last resort, and BestBuy is just... well do I need to say more?

[Ida_Mann]

I'm thinking of setting up a little side business of computer supply in Central Florida since I have access to a pretty good warehouse of items.

Id@

[AmericanRobster]

I have never had any problems at Compusa.