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Micro Warehouse Files Chap. 11

9/12/2003 08:30:00 AM Eastern

Norwalk, Conn. - Micro Warehouse, the privately-held, direct-sale computer and accessories retailer, has filed for Chapter 11 bankruptcy protection and has sold its U.S. assets to CDW Computer Centers for about $22 million.

Micro Warehouse carries brand name personal PCs, software, accessories and peripherals, which it sells to businesses and consumers online and via catalog. The company ranked No. 39 on the TWICE Top 100 CE Retailers list with some $300 million in direct-to-consumer sales last year.

Wholesaler Ingram Micro, its largest unsecured creditor with over $17.9 million in unpaid shipments, will take a charge of about $13 million after taxes as a result of the bankruptcy filing and asset sale.

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