The good news is that since today RadioShack. Standard General Radioshack… has formally been purchased by Retail Ecommerce Ventures (REV), offering the troubled company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local 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 throughout the long winter nights, and an electronic package or two delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website presently states that sales have actually been momentarily halted to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the new owners would wish to do.
We all understand 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 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 brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s effectively reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 anyone looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Standard General Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking 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.