Fortunately is that as of today RadioShack. Dave Rawls Radioshack… has formally been purchased by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having formerly revamped the Web presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of 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 US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic kit or two delivered to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have actually been temporarily stopped to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name internationally.
REV declares it’s effectively turned around other companies it’s launched as online brand names. 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 became a retail staple in the ’80s and ’90s for anybody looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Dave Rawls Radioshack
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.