Fortunately is that since today RadioShack. Does Radioshack Sell Components… has formally been bought by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic kit or more shipped to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have been momentarily stopped to permit inventory restructuring, though it’s unclear 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 the majority of their physical locations 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 given another shock of life today when they were acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired 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 already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s effectively reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Does Radioshack Sell Components
REV states it will “soon relaunch” RadioShack’s site. So 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 buy costly HDMI cables and knockoff headphones.