The bright side is that since today RadioShack. Is Radioshack A Good Stock To Buy… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The disadvantage, 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 previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic kit or 2 delivered 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REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this writing the website currently says that sales have been momentarily halted to permit stock 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 business still has on hand after shuttering most 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 company that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, 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 company is “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anybody seeking to get tech essentials. For a long period of time, that implied actual radio components, however ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the business filed for insolvency two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and offers top quality items within some places of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” items at Kohl’s although that merchant shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stick around. Is Radioshack A Good Stock To Buy
REV states 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 enough place to go when you wish to purchase costly HDMI cables and knockoff earphones.