The bright side is that as of today RadioShack. Radioshack Photo Record… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic set or 2 shipped to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the website currently states that sales have been briefly stopped to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand name.
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, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Photo Record
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you desire to buy pricey HDMI cables and knockoff headphones.