Fortunately is that since today RadioShack. Radioshack 21-1914 Guild… has formally been purchased by Retail Ecommerce Ventures (REV), offering the troubled business a new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having previously revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude 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 local strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic package or 2 delivered to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website currently states that sales have actually been briefly stopped to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that plans to relaunch the once-great merchant 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 brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 21-1914 Guild
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you wish to buy pricey HDMI cables and knockoff headphones.