Fortunately is that as of today RadioShack. Does Radioshack Do Phone Repairs… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter nights, and an electronic set or more delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website presently states that sales have been momentarily stopped to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to get tech basics. For a long period of time, that suggested real radio components, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business declared insolvency two times in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality products within some places of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. Does Radioshack Do Phone Repairs
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient location to go when you desire to buy overpriced HDMI cables and knockoff earphones.