The Channel logo

News

By | Drew Cullen 28th February 2007 18:43

CompUSA jettisons 126 stores

$440m cash injection

CompUSA today sounded the Big Retreat, announcing plans to close more than half of its US stores.

The lossmaking PC retailing giant is to restructure at a corporate level and promises "major expense reductions". It has a secured a $440m cash injection from an unspecified source to shore up its balance sheet. Post re-org, the company will have 103 stores in 39 states and Puerto Rico.

Quote time, from Roman Ross, CompUSA's boss. "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 [and] focus on initiatives that enhance its top performing locations." ®

alert Send corrections

Opinion

Killer whale

Chris Mellor

Firm cites 'low demand' plus 'abusers'

Tim Worstall

Or why the reversal of globalisation ain't gonna 'appen
The full Spanglish breakfast: mealy pudding, bacon, black pudding, sausages, fried egg, toast
Blood image

Trevor Pott

Can the storage giant overcome a lack of necessary leadership?

Features

No, silly... he was the fall guy for years of Finnish folly
Fraud image
Frodo and the Ring
Microsoft's strategy is to make Store apps popular. Good luck with that