Is Radioshack Going Completely Out Of Business – Everything you need

Fortunately is that as of today RadioShack. Is Radioshack Going Completely Out Of Business… has formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.

While the press release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do during the long winter season nights, and an electronic set or two 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REV says they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have been briefly halted to allow for stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would want to do.

We all know how that story ended.

RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.

The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name internationally.

REV declares it’s effectively reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 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. For a very long time, that implied real radio parts, but 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 showed up, and the business declared personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells branded items within some places of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. Is Radioshack Going Completely Out Of Business

REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to purchase costly HDMI cable televisions and knockoff headphones.