Fortunately is that as of today RadioShack. Does Radioshack Sell Tvs… has formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled business 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 retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having actually previously revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright 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 US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter season nights, and an electronic package or 2 shipped to their door might be simply the thing.
REV says they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the website currently states that sales have actually been momentarily 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 business still has on hand after shuttering most of their physical locations in 2017 certainly sounds 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 business 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 start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively turned around other companies it’s released as online brands. 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 aiming to grab tech basics. For a very long time, that suggested actual radio parts, but wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping got here, and the business declared insolvency twice in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers branded products within some areas of HobbyTown, a crafts retailer– 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 years earlier. REV didn’t say whether those RadioShack licenses would stick around. Does Radioshack Sell Tvs
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate place to go when you wish to purchase overpriced HDMI cables and knockoff headphones.