Say Goodnight Comdisco

"This will allow us, in an orderly fashion, to determine how to sell them off," said Comdisco spokesperson Mary Moster. "We're going to try to maximize the value."

Although Moster said the plan would allow it to emerge from bankruptcy in August, she confirmed the plan would mean the effective end of the Rosemont, Ill., company in 2005.

Comdisco continued the unloading of its leasing division, which was the company's biggest revenue generator. Last night, it closed the sale of its health-care leasing assets to GE Capital for $117 million. GE Capital also paid Comdisco $24 million in a second closing for Comdisco's electronics, lab and scientific assets. GE Capital paid $548 million in a first closing two months ago.

Comdisco's fire sale has been in the works since April 2001, when it retained Goldman, Sachs and McKinsey to explore options for emerging from a financial cloud created by bad loans, a sagging venture division, and a failed broadband division. In July 2001, the company filed for bankruptcy.

In February, Comdisco received bankruptcy court approval for the sale of its IT control and predictability unit to T-Systems. Last October, Hewlett Packard swooped in to pick up Comdisco's Availability Solutions business for $750 million.