Fortunately is that as of today RadioShack. Radioshack Phone Recorder Controller… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter nights, and an electronic set or two shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually been briefly stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the business 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 know 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 purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the 2nd and first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Phone Recorder Controller
REV states it will “soon relaunch” RadioShack’s website. 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 overpriced HDMI cable televisions and knockoff headphones.