The good news is that as of today RadioShack. Radioshack Milford Mall… has actually officially been bought by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually formerly revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and grownups trying to find something to do throughout the long winter season nights, and an electronic kit or more shipped to their door might be just the important things.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the website currently states that sales have been briefly halted to allow for inventory restructuring, though it’s uncertain if this is straight 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 certainly seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another business that prepares to relaunch the once-great seller as an online-focused brand.
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, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site currently 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 launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Milford Mall
REV states it will “quickly relaunch” RadioShack’s site. 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 want to purchase costly HDMI cables and knockoff headphones.