Fortunately is that since today RadioShack. Radioshack Accountonline Com Cards… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in reaction 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 season nights, and an electronic set or two delivered to their door might be simply the important things.
REV states they prepare to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website presently states that sales have been briefly stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of 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 “confident” it can even more raise awareness of the brand name globally.
REV claims it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to grab tech essentials. For a long time, that meant real radio parts, however wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business declared bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” shops and offers branded items within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” products at Kohl’s although that merchant shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would remain. Radioshack Accountonline Com Cards
REV says it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to purchase expensive HDMI cables and knockoff earphones.