Monday, December 10, 2007

CompUSA Sells To Private Equity Firm, Looks To Close Stores

Dallas-based consumer electronics retailer CompUSA revealed Friday that it has been acquired by an affiliate of Gordon Brothers Group LLC, a restructuring and investment consulting firm specializing in the retail, real estate and industrial sectors. Terms of the deal were not disclosed. CompUSA said that Gordon Brothers Group is actively engaged in discussions to sell select stores in key markets, however, CompUSA said its 103 retail centers will remain open and staffed during the holiday season. CompUSA noted that the group is also seeking buyers for CompUSA's technical services business, CompUSA TechPro, and its Internet sales operation, CompUSA.com. CompUSA said it will continue to operate both units until any sale transactions are closed.