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Systemax To Buy Some CompUSA Stores

Up To 16 Stores To Be Purchased

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[ Business]

CompUSA and a small number of stores will be receiving a second chance thanks to Systemax owned TigerDirect.

TigerDirect has agreed to purchase up to 16 CompUSA stores in Florida, Texas and Puerto Rico from the Dallas based company that announced liquidation plans last month. The deal includes the CompUSA brand name, trademarks and Web site. The $30 million cash deal will close in stages starting this week.

CompUSA

"The CompUSA brand is a huge name," said Gilbert Fiorentino, chief executive officer of TigerDirect, which will merge the CompUSA stores and website into its existing operations. "We’ve had an opportunity to look inside and get the assets that make sense."

CompUSA said in December that it was being sold to Gordon Brothers, who planned to sell as many of the remaining 103 stores as possible and close the rest. The retailer was owned by Mexican billionaire Carlos Slim and his Mexico City-based Grupo Carso.

"We’ve already had an aggressive growth strategy, but this gives us a great boost," said Fiorentino. "Part of the reason this is so attractive is that with the existing infrastructure we can absorb most of this business."
 

Systemax To Buy Some CompUSA Stores
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