The good news is that as of today RadioShack. Radioshack Monterrey Catalogo… has formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic kit or more shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have actually been briefly halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another company that prepares to relaunch the once-great retailer 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 brand names from other faded retail giants as well, 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 name globally.
REV claims it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. For a long period of time, that indicated real radio elements, however ended up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased vastly as online shopping arrived, and the company filed for bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and sells top quality items within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stay. Radioshack Monterrey Catalogo
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy costly HDMI cable televisions and knockoff earphones.