Fortunately is that since today RadioShack. Did Employees Lose Their 401K At Radioshack… has formally been acquired by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having actually formerly revamped the Web existence of other insolvent services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do during the long winter nights, and an electronic kit or two shipped to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this composing the website currently says that sales have been temporarily halted to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another business that prepares to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Did Employees Lose Their 401K At Radioshack
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you want to buy overpriced HDMI cables and knockoff headphones.