The bright side is that as of today RadioShack. Radioshack Poughkeepsie New York… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack places, 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 further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do during the long winter nights, and an electronic set or two delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have been temporarily halted to enable inventory 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 company still has on hand after shuttering most of their physical places in 2017 certainly seems like something the brand-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 bought by another company 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 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 Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
REV declares it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and first 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 fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Poughkeepsie New York
REV says it will “quickly relaunch” RadioShack’s website. So 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 costly HDMI cable televisions and knockoff earphones.