The good news is that as of today RadioShack. Fix It Here Radioshack Locations… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic kit or more shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the website currently says that sales have actually been briefly stopped to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’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 too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand globally.
REV claims it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Fix It Here Radioshack Locations
REV states it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient location to go when you want to buy overpriced HDMI cable televisions and knockoff earphones.