The bright side is that since today RadioShack. Radioshack Pr Black Friday 2014… has actually formally been bought by Retail Ecommerce Ventures (REV), giving the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of 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 US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter nights, and an electronic package or two delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site presently states that sales have been briefly stopped to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were acquired by another company that plans to relaunch the once-great seller 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 brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 anybody wanting to grab tech basics. For a very long time, that meant actual radio components, however ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business declared personal bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” shops and sells branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still discover “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a years ago. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pr Black Friday 2014
REV states 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 place to go when you want to buy expensive HDMI cable televisions and knockoff earphones.