The bright side is that as of today RadioShack. Radioshack 4301237… has actually formally been purchased by Retail Ecommerce Ventures (REV), providing the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Internet presence of other insolvent companies 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 believes the future of retail isn’t to be found in your local shopping center. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter nights, and an electronic set or 2 shipped to their door might be just the important things.
REV says they plan to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the site currently says that sales have been momentarily stopped to enable stock 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 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 acquired by another business that plans to relaunch the once-great merchant as an online-focused brand name.
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 Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand 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 income between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack 4301237
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you want to buy expensive HDMI cable televisions and knockoff headphones.