Fortunately is that as of today RadioShack. Is Radioshack One Word… has officially been acquired by Retail Ecommerce Ventures (REV), giving the struggling business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having actually previously revamped the Internet existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the United States mulls even more 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 during the long winter season nights, and an electronic set or 2 shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have been momentarily halted to allow for stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another company that prepares 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, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand name internationally.
REV declares it’s effectively turned around other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings 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 looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Is Radioshack One Word
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you wish to buy expensive HDMI cable televisions and knockoff earphones.