Fortunately is that as of today RadioShack. Radioshack In San Fernando Valley… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a brand-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 indicates, REV focuses on online retail, having previously revamped the Internet existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do throughout the long winter nights, and an electronic set or more shipped to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website currently states that sales have actually been momentarily stopped to permit stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered 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 purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, 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 declares it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the second and very first quarter of 2020.
RadioShack was established 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 In San Fernando Valley
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 sufficient place to go when you want to purchase costly HDMI cable televisions and knockoff earphones.