The good news is that since today RadioShack. Radioshack Lk-1161 Review… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronic devices 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 businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter season nights, and an electronic set or two delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this writing the site presently states that sales have actually been briefly stopped to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given 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 shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand worldwide.
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 profits in between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to get tech fundamentals. For a long time, that implied real radio components, however ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping got here, and the business filed for personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and offers branded products within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Lk-1161 Review
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase costly HDMI cable televisions and knockoff earphones.