Fortunately is that as of today RadioShack. Radioshack Phone Link… has formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling company a new lease on life. The downside, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of 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 US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or more shipped to their door might be just the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the site presently says that sales have actually been temporarily halted to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were purchased 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 “confident” it can even more raise awareness of the brand name internationally.
REV declares it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income 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 looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Phone Link
REV says 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 enough place to go when you want to buy costly HDMI cables and knockoff headphones.