macnn/electronista
12/07/2007, 9:35pm, EST
Friday, December 7thCompUSA bought out, to shutter stores
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.
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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 fuck Microcenter too.
CompUSA was crap. Buying stuff there was like buying aspirin at 7-Eleven... you paid out the ass 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.
how quaint.
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.
Let this be a lesson to all of the other major retailers. Screw your customers, and we start to shop online - and you eventually go out of business.
I won't miss 'em. Good riddance.