Fortunately is that as of today RadioShack. Radioshack Sales Associate… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having formerly revamped the Internet existence of other insolvent organizations 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 found in your regional shopping center. As the US mulls further 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 during the long winter nights, and an electronic set or two delivered to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website currently says that sales have actually been briefly stopped to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand.
The store’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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand name globally.
REV claims it’s effectively turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the second and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Sales Associate
REV says 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 sufficient place to go when you want to purchase expensive HDMI cables and knockoff earphones.