Fortunately is that as of today RadioShack. Radioshack Bankruptcy Dates… has actually formally been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Internet presence 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 United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter season nights, and an electronic set or two delivered to their door might be just the thing.
REV states they prepare 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 actually been temporarily halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering the majority of their physical areas in 2017 definitely seems like something the new owners would want to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back prior to they thought selling phones and TVs was in some way an excellent idea. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. However we all know how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a particular convenience in understanding that RadioShack books and kits will still be around for the next generation.
RadioShack’s shambling remains were given another jolt of life today when they were purchased by another business that prepares to relaunch the once-great seller 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 says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Bankruptcy Dates
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough place to go when you wish to purchase overpriced HDMI cable televisions and knockoff earphones.