Fortunately is that since today RadioShack. Radioshack Portavision Tv… has officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet existence of other bankrupt companies 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 thinks the future of retail isn’t to be found in your regional strip mall. As the United States 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 during the long winter nights, and an electronic kit or 2 delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site currently says that sales have been momentarily halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were purchased by another company that plans to relaunch the once-great seller as an online-focused brand name.
The shop’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, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Portavision Tv
REV says it will “quickly 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 pricey HDMI cables and knockoff earphones.