Fortunately is that as of today RadioShack. Radioshack El Dorado… has officially been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a brand-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 implies, REV concentrates on online retail, having actually previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults trying to find something to do during the long winter nights, and an electronic kit or more shipped to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site currently states that sales have been briefly stopped to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering most of their physical areas 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 jolt of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.
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 as well, including Pier 1, Modell’s Sporting Goods, 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 name internationally.
REV claims it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack El Dorado
REV states it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cable televisions and knockoff earphones.