The bright side is that as of today RadioShack. Radioshack Perisur… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude 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 shopping center. 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 season nights, and an electronic kit or more delivered to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website currently states that sales have been momentarily stopped to allow for inventory restructuring, though it’s unclear if this is straight 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 areas in 2017 certainly sounds like something the brand-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 seller 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 brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand globally.
REV declares it’s successfully reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Perisur
REV says it will “quickly 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 wish to purchase costly HDMI cables and knockoff earphones.