Fortunately is that as of today RadioShack. When Did Radioshack Come Back In Business… has actually officially been bought by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults looking for something to do during the long winter season nights, and an electronic package or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the website presently says that sales have been temporarily halted to allow for inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the new owners would want 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 merchant as an online-focused brand.
The shop’s remains were bought 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 Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name globally.
REV claims it’s successfully reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd 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 fundamentals. REV didn’t state whether those RadioShack licenses would stick around. When Did Radioshack Come Back In Business
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you wish to purchase expensive HDMI cables and knockoff headphones.