The bright side is that since today RadioShack. Radioshack Offers Shares Of Stock To Investors… has formally been bought by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out 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 US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups searching for something to do during the long winter season nights, and an electronic package or more shipped to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently states that sales have been temporarily stopped to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 definitely sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were bought 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 states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very first 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 time, that indicated actual radio components, however ended up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the company filed for bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “licensed” stores and sells branded products within some locations of HobbyTown, a crafts merchant– comparable to how you can still find “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Offers Shares Of Stock To Investors
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to purchase costly HDMI cable televisions and knockoff earphones.