CompUSA, the computer and gadget retailer owned by Mexican billionaire Carlos Slim, said it would close more than half of its U.S. retail locations over the next two to three months to focus on top performing locations.

CompUSA said in a statement it would close 126 of its stores and would receive a $440 million cash capital infusion, but it was not specific as to the source of the cash. The company also said it would cut costs and restructure.