The bright side is that since today RadioShack. Why Did Radioshack Go Bankrupt… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in action 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 set or two shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website presently says that sales have actually been momentarily stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the brand-new owners would want to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back before they thought selling tvs and phones was in some way a great idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. We all understand how that story ended. While it doesn’t appear like this news will get us any closer to having an area store that stocks resistors, there’s a particular convenience in knowing that RadioShack sets and books will still be around for the next generation.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand name.
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 too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Why Did Radioshack Go Bankrupt
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy overpriced HDMI cables and knockoff headphones.