The bright side is that since today RadioShack. Radioshack Pineville… has actually officially been bought by Retail Ecommerce Ventures (REV), giving 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 electronics seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered 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 searching for something to do throughout the long winter season nights, and an electronic package or two 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REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the website currently states that sales have been momentarily halted to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that prepares to relaunch the once-great retailer 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 brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and second quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pineville
REV says it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to buy expensive HDMI cable televisions and knockoff headphones.