Fortunately is that since today RadioShack. Can I Buy Radioshack Stock… has formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronics retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually formerly revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and grownups searching for something to do during the long winter nights, and an electronic package or 2 delivered to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021.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 enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand.
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 also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s effectively turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits 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 seeking to grab tech fundamentals. For a very long time, that implied real radio parts, however wound up including lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the business declared insolvency twice in the past five years. RadioShack still licenses its name to third-party “authorized” stores and offers branded products within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade back. REV didn’t state whether those RadioShack licenses would remain. Can I Buy Radioshack Stock
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you desire to purchase overpriced HDMI cables and knockoff earphones.