The bright side is that since today RadioShack. Radioshack Joplin… has formally been bought 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 plans to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your local strip mall. As the United States mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic set or 2 shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site presently says that sales have actually been briefly stopped to permit inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’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 too, consisting of 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 “positive” it can even more raise awareness of the brand name globally.
REV declares it’s successfully reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income 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 essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Joplin
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to buy pricey HDMI cables and knockoff earphones.