CompUSA Throws in the Towel, Sells to a Liquidator

While the rumour has been floating around all week, the Wall Street Journal reports CompUSA has been sold to a liquidation firm, effectively putting the company out of business. The move is largely based on declining sales, with the company speculated to only do $US1.5 billion in sales this year (compared to $US4 billion last year). While it will be open through the holidays, the company is actively working to sell and/or close its 103 retail stores. Can you say clearance deals? [WSJ]