The good news is that as of today RadioShack. Nintendo Switch Lite Radioshack… has actually officially 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 immediate strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Web presence of other bankrupt 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 found in your local strip mall. 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 adults trying to find something to do during the long winter nights, and an electronic kit or 2 shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have actually been temporarily stopped to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were bought 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 start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Nintendo Switch Lite Radioshack
REV states it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to buy overpriced HDMI cables and knockoff earphones.