Fortunately is that as of today RadioShack. Radioshack Paseo Durango… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually previously revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your local strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter nights, and an electronic set or two shipped to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the website presently states that sales have actually been temporarily halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just 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 want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s effectively turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Paseo Durango
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 sufficient place to go when you want to buy expensive HDMI cable televisions and knockoff headphones.