Fortunately is that since today RadioShack. Is Radioshack Completely Out Of Business… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not 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 even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do during 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 dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have actually been temporarily halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 certainly seems 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 company that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name globally.
REV declares it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech basics. For a long time, that suggested actual radio components, however wound up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined significantly as online shopping arrived, and the business applied for insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality products within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Is Radioshack Completely Out Of Business
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you desire to buy costly HDMI cables and knockoff earphones.