The good news is that since today RadioShack. Radioshack Psr500… has actually officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the US 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 grownups trying to find something to do during the long winter nights, and an electronic set or 2 delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have actually been temporarily halted to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’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, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other companies it’s released 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 established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Psr500
REV states it will “soon relaunch” RadioShack’s site. 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 buy costly HDMI cable televisions and knockoff headphones.