The good news is that as of today RadioShack. Radioshack Cancun Gran Plaza… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the troubled business a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic kit or two shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021.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 site presently says that sales have been temporarily halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock 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 bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Cancun Gran Plaza
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to buy pricey HDMI cables and knockoff headphones.