Fortunately is that as of today RadioShack. Radioshack Leatherman… has officially been acquired by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having previously revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out preclude the possibility of brand-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 US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter season nights, and an electronic package or more delivered to their door might be just the important things.
REV states they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the site currently states that sales have been momentarily halted to allow for stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering most of their physical places in 2017 definitely sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that plans to relaunch the once-great merchant 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 Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV declares it’s successfully 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 very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Leatherman
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you desire to purchase overpriced HDMI cable televisions and knockoff earphones.