Fortunately is that since today RadioShack. Radioshack Digital 22-091… has actually formally been bought by Retail Ecommerce Ventures (REV), providing the distressed company a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional shopping center. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter season nights, and an electronic set or more shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have actually been temporarily halted to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much merchandise 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 want to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were purchased by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The store’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 too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website already has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand name globally.
REV claims it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the first and 2nd quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Digital 22-091
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.