The bright side is that as of today RadioShack. Radioshack Radio Kit… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Web existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic set or two shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site currently states that sales have actually been temporarily halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just 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 want 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 business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up 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 currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand globally.
REV claims it’s effectively turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in 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 looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Radio Kit
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you want to buy expensive HDMI cable televisions and knockoff earphones.