Fortunately is that as of today RadioShack. Radioshack Phone Recording Control (43-1237)… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent 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 strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the site currently states that sales have been momentarily stopped to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of 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 worldwide.
REV declares it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in 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 looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Phone Recording Control (43-1237)
REV states it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you want to purchase pricey HDMI cable televisions and knockoff headphones.