Micro Warehouse

Micro Warehouse was a Norwalk, Connecticut based PC and Apple Computer-product catalog company that filed for bankruptcy on September 11, 2003.

History

Jerry York, famed CFO who led turnarounds at IBM and Chrysler, was the Chairman, President, and CEO. The Los Angeles buyout firm Freeman, Spogli, York, and a group of private investors including Michael Ovitz and Gary Wilson, spent $725 million to take Micro Warehouse private in February, 2000.

The leveraged buyout left the company burdened with $200 million in debt. The company sold its North American operations to CDW Corporation just two and a half years later, on September 8, 2003 for $22 million. Micro Warehouse filed for Chapter 11 bankruptcy protection and York announced his resignation.

The bankrupt company owed millions to its unsecured creditors. $17.9 million to Ingram Micro, $8.6 million to Hewlett-Packard, $3.1 million to Toshiba, and $2 million to IBM. [ [http://www.macobserver.com/article/2004/10/22.7.shtml TMO Reports - 5 Apple Execs Make $29M Stock Profit in Last 7 Days || The Mac Observer ] ]

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