The bright side is that since today RadioShack. Radioshack La Pastora… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls further 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 throughout the long winter season nights, and an electronic kit or more shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack site 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 stopped to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand internationally.
REV claims it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the 2nd and first quarter of 2020.
RadioShack was established in 1921 and became 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 La Pastora
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 sufficient place to go when you desire to buy costly HDMI cable televisions and knockoff earphones.