Find Did Radioshack Filed Bankruptcy 2022

Fortunately is that as of today RadioShack. Did Radioshack Filed Bankruptcy… has actually officially been bought by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.

While journalism release doesn’t straight-out prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do throughout the long winter nights, and an electronic package or more shipped to their door might be just the thing.

REV says they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have actually been briefly halted to enable inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the new owners would wish to do.

Like the majority of you, we have fond memories of the Golden Age of RadioShack, back before they believed offering phones and Televisions was in some way a great concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having an area store that stocks resistors, there’s a specific comfort in knowing that RadioShack books and packages will still be around for the next generation.

RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand name.

The shop’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 as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand name worldwide.

REV claims it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.

RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody seeking to grab tech basics. For a long time, that implied real radio parts, but wound up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the company applied for insolvency twice in the past five years. RadioShack still certifies its name to third-party “licensed” stores and offers top quality products within some locations of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade earlier. REV didn’t state whether those RadioShack licenses would stay. Did Radioshack Filed Bankruptcy

REV states it will “soon relaunch” RadioShack’s website. 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 wish to purchase costly HDMI cable televisions and knockoff headphones.