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Systemax bought out rights to the name. They've been n around since 1949 and really haven't done anything noteworthy, but worth keeping an eye on.
This economy has lead to some rather unprecedented rebrand/relaunch scenarios that might not have been possible previously. Look at this and CompUSA and other, similar, situations. From a marketing and modern business vs. old school business model perspective, I've never seen anything like this, ever. It will be interesting to watch in the coming years. Do these smallish/newish business entities with rather big and well known brand names flourish, or do they go the way of KMart? I guess only time, and economic trends will tell.