Retailer CompUSA is combining its holiday sales this year with a going-out-of-business sale as it prepares to close its 103 retail outlets across the country.

Mexican billionaire Carlos Slim, who has owned the chain since 2000, sold it for an undisclosed amount to Gordon Brothers Group, a restructuring firm that has announced it is launching "an orderly and expedited wind-down and asset sale process." A company spokesman would not give specifics of how the wind-down will occur, except to say items will be discounted this month to get rid of inventory.

CompUSA was founded in Dallas in 1984 as Soft Warehouse then changed its name to CompUSA in 1991. In 2000, Slim’s Grupo Sanborns SA purchased the company for $797.7 million after holding a 14 percent stake since 1999. Slim invested at least $700 million more in recent years to shore up the retailer’s finances but said he has failed to turn the company around.