Earlier this year, Circuit City announced a handful of store closings in the United States along with 60 more in Canada.  Today electronics retailer CompUSA is following suite, but more drastically. The company announced that it is closing 126 stores nationwide (DOC) leaving just 109 stores in 39 states and Puerto Rico.

"Based on changing conditions in the consumer retail electronics market, the company identified the need to close and sell stores with low performance or non-strategic, old store layouts and locations faced with market saturation," said CompUSA CEO Roman Ross. "The process began last week with the closing of four CompUSA stores and over the next 60-90 days."

The company will receive $440 million USD in cash to facilitate the restructuring. According to the Houston Chronicle, the cash will come from its parent company U.S. Commercial Corp. which is controlled by Mexican billionaire Carlos Slim.

In Texas alone, CompUSA will close seven out of nine stores in and around Dallas, Texas. New Jersey will see 10 out of its 11 total stores fall by the wayside and six of the seven CompUSA locations in Massachusetts will be shuttered.

The increasingly cut-throat electronics arena has taken its toll on CompUSA. Its more nimble rivals like Best Buy and Circuit City have made greater strides in maintaining up-to-date stores and adapting to changing market conditions and consumer tastes.

CompUSA locations like the one in Skokie, Illinois have the following phone recording for customers calling in, "Thank you calling CompUSA Skokie. Please join us for the store closing sale in progress. Call as at 1-800-COMP-USA or visit us on the web at www.compusa.com. We look forward to serving your technology needs."

CompUSA also came under fire in recent years for its mail-in rebates attached to many of its products. The company received number complaints from consumers nationwide who reported unfulfilled rebate requests and deceptive advertising practices. The Federal Trade Commission (FTC) came down hard on CompUSA and its rebate practices issuing a number of changes that had to be made to ensure that the rebate process was made easier and less treacherous for the consumer.

The resulting system that rose from the FTC's probing was CompUSA's eRebates program. Under the program -- which is slightly more complex than Staples' Easy Rebates program – users can enter in their receipt information online to submit a rebate. UPC codes and receipts are not required to be mailed in and the process is completely electronic and relatively trouble-free.

To see if locations in your area will survive or be closed due to restructuring, you can follow this link. If your location is not shown in the list of stores, it will be closed within the next 90 days.