Fortunately is that since today RadioShack. Wii Radioshack… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Web presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic package or two shipped to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently says that sales have actually been briefly stopped to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were bought by another business that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand worldwide.
REV claims it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Wii Radioshack
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to purchase costly HDMI cables and knockoff headphones.