Dec 07
CompUSA Acquired by Gordon Brothers Group Affiliate; Retail Store Operations Will Wind-Down
- Retail Store Operations Will Wind-Down, Offering Consumers Attractive Holiday Bargains on Computer and Electronics Products
DALLAS, Dec 07, ‘07 /PRNewswire/ — CompUSA today announced that it has been acquired by an affiliate of Gordon Brothers Group, LLC, a global advisory, restructuring and investment firm specializing in retail, consumer products, real estate and industrial sectors. Terms of the transaction were not disclosed.
Gordon Brothers Group will initiate an orderly wind-down of CompUSA’s retail store operations and is engaged in discussions with various parties regarding the sale of certain assets. CompUSA’s 103 retail stores will remain open and staffed during the holiday season, and will offer consumers attractive bargains on computer and electronic products as part of store closing sales.
Active discussions are under way to sell select stores in key markets as well as the company’s highly-regarded technical services business,
CompUSA TechPro, and its productive Internet sales operation, CompUSA.com. CompUSA TechPro and CompUSA.com will be operated by the company as going concerns until any sale transactions are closed.
CompUSA will be run by Bill Weinstein, a Principal at Gordon Brothers Group, acting as Interim President, and by Stephen Gray, Managing Partner at restructuring firm CRG Partners, who will serve as Chief Restructuring Officer. Current CEO Roman Ross will continue to serve the company in an executive advisory capacity during the transition period.
DJM Realty, a Gordon Brothers Group company that specializes in real estate disposition and valuations, will assist in assessing the leases for
CompUSA’s store locations. More at PRNewsWire.