Gordon Bros. Buys CompUSA, Will Close Stores After Holidays

Dallas Gordon Bros. Group has purchased electronics chain CompUSA for an undisclosed amount. Details of the sale, announced Friday, were not disclosed. Gordon Bros. plans to sell some of the chain’s 103 stores, along with the option of a buyer's retaining the CompUSA brand name, and close the rest.

The new owner said all stores will remain open and staffed during the holiday season, offering discounts on computer and electronics ahead of the planned store closures. "An orderly and expedited wind-down and asset sale process is the best option for CompUSA and its creditors at this juncture," said Bill Weinstein, a Gordon Bros. principal who will be running CompUSA as its interim president.

Gordon Bros. plans to organize the sale of assets, including retail inventories, overstocks and real estate. Privately held CompUSA, controlled by Mexican financier Carlos Slim Helu's Grupo Carso SA, said discussions were under way to sell certain stores in key markets. Stores that can't be sold will be closed.

Gordon Bros. will also try to sell the company's technical services business, CompUSA TechPro, and online business, CompUSA.com.