The good news is that since today RadioShack. Radioshack Odessa Mo… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter nights, and an electronic kit or more delivered to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website currently says that sales have actually been momentarily halted to enable inventory 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 company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would wish to do.
We all know 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 store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name globally.
REV claims it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Odessa Mo
REV states 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 sufficient location to go when you wish to buy costly HDMI cable televisions and knockoff earphones.