Fortunately is that since today RadioShack. Bocina Jbl Radioshack… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic package or 2 delivered to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the site presently states that sales have actually been temporarily halted to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV declares 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 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech basics. For a long time, that implied real radio components, but wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined vastly as online shopping got here, and the business applied for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and offers branded products within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stick around. Bocina Jbl Radioshack
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase costly HDMI cables and knockoff earphones.