The good news is that as of today RadioShack. Shop Radioshack… has officially been purchased by Retail Ecommerce Ventures (REV), giving the distressed company a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic package or 2 delivered to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website currently says that sales have actually been briefly stopped to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical locations in 2017 certainly seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, 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 companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being 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. Shop Radioshack
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you wish to purchase overpriced HDMI cable televisions and knockoff headphones.