The good news is that since today RadioShack. Radioshack Of Lenoir… has officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic kit or two shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been briefly halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-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 purchased 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 startup founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Of Lenoir
REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to buy expensive HDMI cables and knockoff headphones.