The good news is that since today RadioShack. Radioshack Express Near Me… has formally been bought by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do during the long winter nights, and an electronic set or two shipped to their door might be simply the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this writing the website presently says that sales have actually been temporarily stopped to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that prepares to relaunch the once-great retailer 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 brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone wanting to get tech basics. For a very long time, that implied real radio parts, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping showed up, and the company filed for insolvency twice in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Express Near Me
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 overpriced HDMI cables and knockoff earphones.