The good news is that as of today RadioShack. Apply For Radioshack Card… has actually formally 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 instant strategies to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Web presence of other insolvent organizations 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 regional strip mall. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do during the long winter season nights, and an electronic set or two delivered to their door might be simply 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REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021.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 states that sales have been momentarily halted to allow for inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical locations in 2017 definitely seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’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 as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand globally.
REV claims it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the second and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Apply For Radioshack Card
REV says 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 sufficient place to go when you wish to purchase pricey HDMI cables and knockoff headphones.