The bright side is that as of today RadioShack. Radioshack Realistic Pro 2038… has actually formally been purchased by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude 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 hard to disagree. There will be countless bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic set or 2 delivered to their door might be just the thing.
REV says they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. As of this composing the site currently states that sales have been briefly stopped to allow for stock 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 business still has on hand after shuttering most of their physical areas in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another company that plans to relaunch the once-great retailer 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 brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Realistic Pro 2038
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to buy expensive HDMI cables and knockoff earphones.