The bright side is that as of today RadioShack. Radioshack Payroll Number… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the struggling business a 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 merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually previously revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough 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 more delivered to their door might be just 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REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually been momentarily stopped to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 definitely 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 jolt of life today when they were acquired by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
The store’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 too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to get tech fundamentals. For a long time, that implied actual radio components, but ended up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping got here, 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 areas of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would remain. Radioshack Payroll Number
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 enough location to go when you wish to purchase costly HDMI cable televisions and knockoff earphones.