CompUSA

case study

To facilitate its market exit, Gordon Brothers provided CompUSA and its creditors with a larger and faster cash return than expected through a highly successful asset disposition project.

Client compusa

By The Numbers

Generous fee-based remuneration with significant success-based bonus

Through a full acquisition of assets, we were able to provide CompUSA and its creditors with an exit strategy outside of bankruptcy, with creditors receiving a cash return higher and prompter than expected. CompUSA was a major North American retailer and reseller of consumer electronics, technology products and computer services and was a wholly owned subsidiary of Carlos Slim’s Grupo Carso SA.

Over a 15 week period, we disposed of over $500 million of retail inventory and fixed assets via 103 store closing sales, including lease terminations, throughout the United States and Puerto Rico.  As part of the project, we settled over 1,000 creditors’ claims, representing $700 million worth of secured and unsecured debt.  By avoiding bankruptcy, 100% of the company’s unsecured creditors received a cash return in excess of their expectations.