The good news is that as of today RadioShack. Best Electronics To Replace Radioshack… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic package or more delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have actually been briefly stopped to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name worldwide.
REV claims it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Best Electronics To Replace Radioshack
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you want to purchase pricey HDMI cables and knockoff headphones.