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

frustration_anger_irritation_annoyance pain

Felipe Costa

Pressure to perform for stock market bearing down on disties
Columns of coins in the cloud

Michael Cote

Anything that simple to use has got to be complex to set up
Internet of Things

Gavin Clarke

This time, Larry's Oracle is going after the networking giants

Features

No email? No CRM? No Daily Mail iPad edition? You need a plan
Sinofsky's hybrid strategy looks dafter than ever
Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club