The bright side is that as of today RadioShack. How To Quit Radioshack… has officially been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not 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 discovered in your regional strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic set or more delivered to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the site currently states that sales have been briefly halted to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the brand-new owners would wish to do.
We all understand 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 retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name worldwide.
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 very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. How To Quit Radioshack
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you wish to buy pricey HDMI cables and knockoff earphones.