The bright side is that since today RadioShack. How Many Stores Has Radioshack Closed… has officially been bought by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic kit or more delivered to their door might be simply the thing.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have been briefly stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would wish to do.
We all understand 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 store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of 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 globally.
REV declares it’s successfully turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. For a very long time, that implied real radio parts, however ended up consisting of lots of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping showed up, and the business declared personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “licensed” shops and sells branded products within some areas of HobbyTown, a crafts seller– similar to how you can still discover “Sharper Image” products at Kohl’s despite the fact that that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. How Many Stores Has Radioshack Closed
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to purchase expensive HDMI cable televisions and knockoff earphones.