CompUSA is closing 100 of its 229 stores following a comprehensive reconstructuring. Consumerist says that competition from retailers like Best Buy, Wal-Mart, Circuit City as well as online retailers has made life difficult for CompUSA.
News of the shuttering comes after recent corporate restructuring, and a swirl of rumors in recent weeks about the ailing retailer. One was that CompUSA might get a $400 million-plus infusion from Mr. Carlos Slim, Mexican billionaire chain owner. Another one posited that the retailer might buy, or be bought by, Tiger Direct.
Hammered by competition from Best Buy, Wal-Mart, Circuit City, and internet retailers, and burdened by over $100 million in unsalesable store inventory, Mr. Slim evidently thinks CompUSA's chances at recovery too narrow.
You can see a list of the closed stores here on the CompUSA website. More coverage of the store closings can be found at Ars Technica. Gizmodo says 128 stores are closing not 100.
