Radioshack Philadelphia Mills – Everything you need

The bright side is that as of today RadioShack. Radioshack Philadelphia Mills… has formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The disadvantage, a minimum of 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 indicates, REV concentrates on online retail, having previously revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.

While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter season nights, and an electronic kit or 2 delivered to their door might be just the important things.

REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site currently says that sales have been temporarily halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most 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 jolt of life today when they were purchased by another business that plans to relaunch the once-great seller as an online-focused brand.

The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand worldwide.

REV declares it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 anyone wanting to grab tech basics. For a long period of time, that meant actual radio components, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the business applied for personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells branded products within some locations of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Philadelphia Mills

REV says it will “soon relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to purchase pricey HDMI cable televisions and knockoff headphones.