1992, Hayden split the company into two parts: "one to handle 125 retail outlets and international markets" and the other for "large business and government accounts." Bankruptcy and acquisition In 1993, CompuAdd closed all of its 110 retail stores, to concentrate on direct sales, and sought Chapter 11 bankruptcy protection – but also launched a new line of Centura personal computers. When they emerged from bankruptcy in November 1993, 75 percent ownership of the company was transferred to unsecured creditors, with Hayden retaining 20 percent and the remainder held for employees. Hayden shortly afterwards resigned as CEO, a position taken over by Richard Krause, the company's president and chief operating officer. CompuAdd was subsequently bought by Dimeling, Schrieber & Park, a private Philadelphia investment company in September 1994. References External links CompuAdd corporate information and history at Fundinguniverse.com 1982 establishments in Texas 1994 disestablishments in Texas 1994 mergers and acquisitions American companies established in 1982 American companies disestablished in 1994 Companies that filed for Chapter 11 bankruptcy in 1993 Computer companies established in 1982 Computer companies disestablished in 1994 Defunct computer companies of the United States Defunct computer hardware companies Manufacturing companies based in Austin, Texas Texas Instruments spinoffs