Fortunately is that as of today RadioShack. Is Radioshack Dose Wifi Plan… has formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Internet presence of other bankrupt organizations 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 believes the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic kit or 2 delivered to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently says that sales have been briefly stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the company 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 understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’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, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very 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 aiming to get tech basics. For a long time, that suggested real radio parts, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the business declared insolvency twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers top quality products within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Is Radioshack Dose Wifi Plan
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 location to go when you want to buy pricey HDMI cables and knockoff headphones.