Nothing creates a Christmas buying frenzy like hanging up the “Going Out of Business” signs. CompUSA announced this week they are closing up shop right after Christmas.

There are two ways to look at news like this:

It’s great news because bargains are bound to be had just at the most critical buying time of the year.

It’s bad news because a major purchase like a computer just won’t be supported if something goes wrong on Christmas morning and the place you bought it from isn’t open the day after.

But no matter which way a consumer looks at it most merchants like me have to breathe deeply at this news. CompUSA was once a titan in the computer industry. And they are crying victim now to Best Buy and WalMart. It’s funny to me that they don’t consider Dell and other Internet merchants as key to their downfall. But then again, if they can’t see the obvious then there is no doubt why there are out of business.

So go forth all ye merry Christmas buyers — have at it at CompUSA. But beware: you’re going to have warrantee issues, long lines and some really surly soon-to-be-unemployed sales people to deal with as the price to pay for whatever bargains you score.