Find Is The New Radioshack Going Out Of Business 2022

The good news is that since today RadioShack. Is The New Radioshack Going Out Of Business… has actually formally been purchased by Retail Ecommerce Ventures (REV), offering the distressed company a 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 seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet existence of other insolvent services such as Pier 1 Imports and Dressbarn.

While the press release does not 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 strip mall. As the United States 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 trying to find something to do during the long winter season nights, and an electronic set or 2 delivered to their door might be just the important things.

REV says they prepare to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the site presently states that sales have actually been momentarily halted to allow for stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the brand-new owners would wish to do.

We all understand how that story ended.

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

The store’s remains were purchased 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 Product, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand worldwide.

REV declares it’s successfully reversed other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very first quarter of 2020.

RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. For a very long time, that implied real radio components, however wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the company applied for bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” stores and sells top quality items within some places of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would remain. Is The New Radioshack Going Out Of Business

REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.