Fortunately is that since today RadioShack. Radioshack Fields Corner… has officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter nights, and an electronic set or two shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website presently states that sales have actually been momentarily stopped to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were acquired 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 currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Fields Corner
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you wish to buy costly HDMI cable televisions and knockoff headphones.