CompUSA is giving more details on its planned restructuring effort, including an announcement that it will close more than half of its 229 retail stores.
Over the next two to three months, the company plans to shutter 126 stores in the United States to focus on initiatives that enhance its top performing stores, CEO Roman Ross said in a statement.
"Based on changing conditions in the consumer retail electronics market, the company identified the need to close and sell stores with low performance or non-strategic, old store layouts and locations faced with market saturation," Ross said.
The move comes less than a week after the company announced the closure of four stores in California, Illinois and Texas, and outlined several executive changes. The moves are part of an overall realignment strategy that the company says will improve efficiency, reduce costs and help it better adapt to changing market conditions.
The realignment includes a $440 million capital cash infusion, major expense reductions, layoffs, store closures and corporate restructuring. but does not affect the products and services available through 1-800-CompUSA, CompUSA.com or CompUSA TechPro.
After the closures, the electronics retailer will have 103 stores in 39 states and Puerto Rico. For more information, click here.
Comments