The bright side is that as of today RadioShack. Nibbling Tool Radioshack… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright 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 US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic set or more delivered to their door might be simply the important things.
REV says they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the website currently says that sales have been momentarily stopped to permit inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems 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 bought by another company that plans to relaunch the once-great seller as an online-focused brand.
The shop’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 Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name globally.
REV claims it’s effectively turned around other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue in between the second and very 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 grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Nibbling Tool Radioshack
REV says it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to purchase overpriced HDMI cables and knockoff earphones.