Find Did Radioshack Filed For Bankruptcy 2022

The good news is that since today RadioShack. Did Radioshack Filed For Bankruptcy… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually previously revamped the Web presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.

While journalism release does not outright prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do during the long winter nights, and an electronic kit or two delivered to their door might be just the important things.

REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this composing the site currently states that sales have actually been momentarily halted to permit inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering most 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 era of RadioShack, back prior to they believed selling televisions and phones was in some way an excellent concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. However all of us understand how that story ended. While it does not look like this news will get us any closer to having an area store that stocks resistors, there’s a certain comfort in understanding that RadioShack books and sets will still be around for the next generation.

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

The shop’s remains were bought 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 site currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name globally.

REV declares it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 anybody aiming to grab tech basics. For a very long time, that implied real radio elements, however ended up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping got here, and the business filed for personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “authorized” shops and sells branded items within some places of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that seller shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would stay. Did Radioshack Filed For Bankruptcy

REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to buy expensive HDMI cables and knockoff earphones.