Fortunately is that since today RadioShack. Radioshack Paraguay Locales… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic package or more delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have been momentarily 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 company still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock 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 store’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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand internationally.
REV declares it’s effectively turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech fundamentals. For a long time, that indicated real radio components, but ended up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business declared bankruptcy twice in the past five years. RadioShack still licenses its name to third-party “authorized” shops and offers top quality products within some places of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Paraguay Locales
REV states it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.