The good news is that since today RadioShack. Radioshack Green Bay Wisconsin… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the troubled company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be found in your regional strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter nights, and an electronic kit or two delivered to their door might be simply the thing.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently says that sales have been momentarily halted to allow for stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much merchandise the company 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 purchased by another business that plans to relaunch the once-great seller as an online-focused brand name.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of 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 further raise awareness of the brand internationally.
REV claims it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue 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 anyone aiming to get tech essentials. For a long period of time, that implied real radio components, however wound up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the company applied for personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “authorized” shops and sells branded products within some places of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” items at Kohl’s although that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Green Bay Wisconsin
REV says it will “quickly relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you want to purchase costly HDMI cable televisions and knockoff headphones.