CompUSA chain retrenching

CompUSA Inc. said Tuesday that it would shut 126 stores -- more than half its outlets -- by the end of May because of tough competition in the retail consumer electronics market.

The closings will leave 103 stores, the company said. CompUSA also said it would receive $440 million in additional capital in the restructuring.

Chief Executive Roman Ross cited “changing conditions in the consumer retail electronics market” for the decision.

The company said it intended to focus on operations at its top-performing locations.

CompUSA announced last week that it would close three stores in Texas, Illinois and California.

Mexico City-based U.S. Commercial Corp., CompUSA’s parent company, is a holding company under the control of Carlos Slim, a Mexican billionaire.