Business
CompUSA Sold, Stores To Close
The chain’s 103 retail stores will remain open and staffed during the holiday season, offering discounts on computer and electronics.
CompUSA, the computer and gadget retailer controlled by Mexican billionaire Carlos Slim, has been sold to a restructuring and investment firm that will close stores and sell some company assets.
The new owner is Boston-based Gordon Brothers Group, which recently helped CompUSA sell under-performing stores. The terms of the deal were not not disclosed.
“An orderly and expedited wind-down and asset sale process is the best option for CompUSA and its creditors at this juncture,” said Bill Weinstein, a Gordon Brothers principal who will be running CompUSA as its interim president.
“We worked long and hard with Gordon Brothers Group to achieve a business solution that maximizes CompUSA’s assets,” said Roman Ross, CompUSA’s current chief executive, who will continue to serve the company in an advisory capacity.
Friday’s sale did not come as a complete surprise to industry watchers.
News reports have suggested that Slim — who is among the world’s wealthiest individuals — was seeking to unload more of his interest in the company.
