Find Is Radioshack Bankrupt 2022

The good news is that as of today RadioShack. Is Radioshack Bankrupt… has officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The downside, at least for folks like us, is that there are no instant plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having previously revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.

While journalism release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter nights, and an electronic set or 2 delivered to their door might be simply the important things.

REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the website currently states that sales have been momentarily stopped to allow for inventory restructuring, though it’s uncertain if this is directly 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 areas 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 shock of life today when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.

The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including 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 claims it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and very first quarter of 2020.

RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Is Radioshack Bankrupt

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