Fortunately is that as of today RadioShack. Radioshack Corporation Fort Worth Tx… has formally been acquired by Retail Ecommerce Ventures (REV), giving the struggling company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually previously revamped the Web presence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent 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 local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard 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 simply the thing.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site currently says that sales have actually been briefly halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought 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 site currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand globally.
REV declares it’s effectively turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in 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 aiming to grab tech essentials. For a very long time, that indicated actual radio components, however wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping showed up, and the business applied for bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “licensed” shops and sells top quality products within some places of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s despite the fact that that seller shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Corporation Fort Worth Tx
REV says it will “quickly relaunch” RadioShack’s site. 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 purchase expensive HDMI cables and knockoff headphones.