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The spread of big box retail giants Best Buy and Circuit City is now having an impact on more specialized stores. In a recent announcement, CompUSA admitted that it will be closing some 126 of its American stores, or about half of the chain's total. CompUSA has been providing U.S. homes and offices with the latest in processing technology since it was founded in 1984. Although CompUSA, Inc. is a subsidiary company, it is largely controlled by common shareholder Carlos Sim, the millionaire resident of Mexico. (Source: slashdot.com)
The mass closings are meant to infuse the company with some $440 million in capital, but the source remains unknown. The stores set to close – most specific locations have yet to be named – will shut their doors in the next 60-90 days. In a comment on CompUSA's move, CEO Roman Ross told the media that "Based on changing conditions in the consumer electronics markets, the company identified the need to close and sell stores with low performance". (Source: extremetech.com) While the list of stores is sure to grow, CompUSA outlets in California, Texas, and Illinois are already set to close up Monday morning. Those locations that have been deemed the best money-makers will remain open, with the resources from the closed locations being streamlined into more productive avenues within the company. Despite the clear appeal of the all-in-one big box store, Circuit City itself has announced similar plans to shut stores. It will be closing down 70 of its own locations in future months. Best Buy has made no such announcement.
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