macnn/electronista

12/07/2007, 9:35pm, EST

Friday, December 7th

CompUSA 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.


Filed under: industry
Other story tags: retail, CompUSA

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Good riddance
0
12/07, 9:47pm, EST
From the competition stand point, it's not a good thing, but good riddance, nevertheless.
Forum Regular
Joined Sep 1999
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I like CompUSA
0
12/07, 10:27pm, EST
Dude, screw you.

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.
Fresh-Faced Recruit
Joined May 2005
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hey, hey, hey...
0
12/07, 10:37pm, EST
...GOOD-BYE!

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.
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Joined Jun 2000
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Too Bad
0
12/07, 11:05pm, EST
Around me, CompUSA was the only to go to buy Mac software. It also was the only place to go if you wanted a decent deal on various things such as cables (yes, I know you could buy cheaper online). Also the Apple Store in Store concept was nicely done when compared to the former experience at places like Best Buy, Circuit City and Sears. In fact, I think CompUSA's stores played an important role in helping save Apple.
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Joined Jan 2006
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which stores?
0
12/07, 11:43pm, EST
Are all of the stores closing? Is there a list of stores to be closed somewhere?

Fresh-Faced Recruit
Joined Aug 2001
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you still buy...
0
12/08, 2:51am, EST
...stuff from bricks-and-mortar stores in the US?

how quaint.
Fresh-Faced Recruit
Joined Jun 2005
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Can't say I'll miss them
0
12/08, 8:09am, EST
in general, but it was the only Mac retailer in town.

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.
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A lesson to be learned...
0
12/08, 8:49am, EST
The lesson to be learned in all of this... Crappy service, employees who know nothing about the products they sell, and ridiculously high prices along with a exceptionally difficult return policy don't tend to help you stay in business.

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.
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Joined Sep 2003
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Firesale
0
12/08, 8:59am, EST
So when does the clearance sale begin?
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Joined Jan 2002
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CompUSA
0
12/08, 9:23am, EST
Where America Buys Technology... At Inflated Prices. RIP. *The term is "BRICK and Mortar" and yes, we still buy "stuff" in them in the USA. We also have another "quaint" custom... we BATHE.
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