The good news is that as of today RadioShack. Radioshack Ship To Store… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Internet presence 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 believes the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter nights, and an electronic package or 2 delivered to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website currently says that sales have actually been temporarily halted to permit stock restructuring, though it’s unclear 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 most of their physical areas in 2017 definitely sounds like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided 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 start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV declares it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Ship To Store
REV states it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.