The good news is that since today RadioShack. How Many Stores Did Radioshack Close… has officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter nights, and an electronic package or more shipped to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been temporarily halted to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical areas 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 given another jolt of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were acquired 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 website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand globally.
REV claims it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. How Many Stores Did Radioshack Close
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to purchase overpriced HDMI cable televisions and knockoff earphones.