Arrow plans to close its PC asset disposition business saying that since it was established, the market dynamics have changed.
Arrow’s CEO Michael Long announced the move as he noted second quarter results would fall short of expectations and shares fell seven per cent following a business update containing news of the planned closure.
Long said the shuttering will be “substantially complete” by the end of 2019 and will lead Arrow to incur charges of about $115 million in its the second quarter.