The bright side is that as of today RadioShack. Radioshack Discovery 1000 Metal Detector… has officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling company a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups looking for something to do during the long winter nights, and an electronic package or more shipped to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this writing the website presently says that sales have been temporarily stopped to allow for inventory restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that prepares to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, 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 internationally.
REV declares it’s successfully turned around other companies it’s launched 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 get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Discovery 1000 Metal Detector
REV states it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you want to buy pricey HDMI cable televisions and knockoff earphones.