"Based on changing conditions in the consumer retail electronics markets, the company identified the need to close and sell stores with low performance or nonstrategic, old store layouts and locations faced with market saturation," Roman Ross, chief executive officer of CompUSA, said in the statement.
The process has already begun, with four closing down, and over the next three months the rest will follow. Obviously, the company is losing money. Regardless, this will put a lot of people out of work. It wouldn't surprise me to see them put an extra emphasis on online sales in the coming years, with peoples increasing acceptance of buying electronic goods from the Internet.