The good news is that since today RadioShack. Radioshack Paging System… has formally been acquired by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter nights, and an electronic kit or 2 shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site presently states that sales have actually been momentarily halted to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant 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 brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and very first 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 basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Paging System
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 adequate location to go when you wish to buy pricey HDMI cable televisions and knockoff headphones.