The bright side is that since today RadioShack. When Did Radioshack Close Stores… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Web presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do during the long winter season nights, and an electronic kit or 2 delivered to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the site presently says that sales have been temporarily stopped to allow for stock restructuring, though it’s uncertain if this is straight 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 purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand globally.
REV claims it’s effectively turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech fundamentals. For a long period of time, that suggested real radio elements, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping showed up, and the business applied for bankruptcy two times in the past five years. RadioShack still certifies its name to third-party “licensed” stores and sells branded products within some areas of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. When Did Radioshack Close Stores
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 enough location to go when you want to purchase expensive HDMI cable televisions and knockoff headphones.