DALLAS — Consumer electronics retailer CompUSA said Friday that it will close or sell all of its stores after the holidays, following sale of the company to an affiliate of Gordon Brothers Group LLC, a restructuring firm.
CompUSA operates 103 stores — including its last remaining Arizona store at 4841 N. Stone Ave. — which plan to run store-closing sales during the holidays.
The company closed its other Arizona stores, in Mesa, Chandler, Peoria, Phoenix and Scottsdale, earlier this year as part of a nationwide realignment that included the closing of 126 stores.
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 Brothers will also try to sell the company's technical services business, CompUSA TechPro, and online business, CompUSA.com.
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Terms of the transaction were not disclosed.
Dallas-based CompUSA has struggled for nearly a decade with falling prices on personal computers, its most important product, and competition from big-box retailers such as Best Buy Co.
Helu took the company private in 2000. The chain went through several CEOs and tried various turnaround strategies, such as a move this year to focus on core customers such as gadget users and small-business owners.
CompUSA closed more than half its stores this spring and got a cash infusion of $440 million to restructure.
During the wind-down, Weinstein and Stephen Gray, managing partner at CRG Partners, will run the company. The chain's current chief executive, Roman Ross, will serve in an advisory role, CompUSA said.
DJM Realty, a Gordon Brothers Group affiliate, will review leases of CompUSA's store locations.