Fortunately is that since today RadioShack. Radioshack Phone Recording Device… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling company a new lease on life. The drawback, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic package or 2 delivered to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack website 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 halted to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that prepares to relaunch the once-great retailer 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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name internationally.
REV claims it’s successfully reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Phone Recording Device
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you wish to purchase overpriced HDMI cables and knockoff headphones.