Fortunately is that since today RadioShack. Radioshack Gary’s Electronics – Wynne 704 Highway 64 East, Wynne, Arkansas 72396… has actually officially been purchased by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. 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 kit or two delivered to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this composing the site presently says that sales have actually been momentarily halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering most of their physical locations in 2017 certainly sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand name.
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 as well, 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 company is “positive” it can even more raise awareness of the brand internationally.
REV claims it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in 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 anybody looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Gary’s Electronics – Wynne 704 Highway 64 East, Wynne, Arkansas 72396
REV says 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 adequate place to go when you want to buy costly HDMI cable televisions and knockoff headphones.