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CompUSA chain retrenching

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From Bloomberg News

CompUSA Inc. said Tuesday that it would shut 126 stores -- more than half its outlets -- by the end of May because of tough competition in the retail consumer electronics market.

The closings will leave 103 stores, the company said. CompUSA also said it would receive $440 million in additional capital in the restructuring.

Chief Executive Roman Ross cited “changing conditions in the consumer retail electronics market” for the decision.

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The company said it intended to focus on operations at its top-performing locations.

CompUSA announced last week that it would close three stores in Texas, Illinois and California.

Mexico City-based U.S. Commercial Corp., CompUSA’s parent company, is a holding company under the control of Carlos Slim, a Mexican billionaire.

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