Fortunately is that as of today RadioShack. How Long Is Radioshack Open… has officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do during the long winter nights, and an electronic set or 2 shipped 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REV states they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering most of their physical places in 2017 certainly seems like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another company that plans to relaunch the once-great seller 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 too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
REV claims it’s effectively reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to get tech essentials. For a long time, that indicated real radio parts, but ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined significantly as online shopping got here, and the business filed for bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and offers branded products within some locations of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stick around. How Long Is Radioshack Open
REV states 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 adequate place to go when you desire to purchase pricey HDMI cable televisions and knockoff earphones.