Fortunately is that since today RadioShack. Radioshack Md 1160… has officially been bought by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having formerly revamped the Web existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic set or more shipped to their door might be just the thing.
REV says they prepare to relaunch the rather dated RadioShack site just in time for the company’s 100th anniversary in 2021. As of this writing the site currently says that sales have actually been temporarily stopped to allow for stock restructuring, though it’s unclear if this is straight 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 areas 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 provided another shock of life today when they were purchased by another business that prepares to relaunch the once-great seller as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand worldwide.
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 revenue between the 2nd and very first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Md 1160
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you wish to purchase pricey HDMI cables and knockoff earphones.