Fortunately is that as of today RadioShack. Radioshack Park City Mall… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled 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 electronic devices seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Web existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic package 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. As of this composing the website presently says that sales have been momentarily halted to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 definitely sounds 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 purchased by another company that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were acquired 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 already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income 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 get tech basics. For a long time, that suggested real radio components, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping arrived, and the business declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “authorized” stores and sells branded items within some places of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would remain. Radioshack Park City Mall
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you desire to purchase overpriced HDMI cable televisions and knockoff earphones.