The good news is that since today RadioShack. Is Radioshack Stock Worth Anything… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling business a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude 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 strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter season nights, and an electronic kit or more shipped to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been temporarily halted to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering the majority of their physical places 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 provided another jolt of life today when they were purchased by another company that prepares to relaunch the once-great merchant 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 brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Is Radioshack Stock Worth Anything
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy overpriced HDMI cables and knockoff earphones.