Fortunately is that as of today RadioShack. Radioshack Closing All Stores… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having formerly revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack areas, 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 action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter nights, and an electronic package or two delivered 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REV says they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021.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 site currently says that sales have actually been momentarily halted to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds 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 bought by another company that prepares to relaunch the once-great seller as an online-focused brand.
The store’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 too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name globally.
REV claims it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Closing All Stores
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy pricey HDMI cables and knockoff headphones.