The good news is that since today RadioShack. Radioshack New Jersey… has actually formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name suggests, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not 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 found in your local strip mall. As the United States mulls further lockdowns in response 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 season nights, and an electronic package or 2 shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this composing the site presently states that sales have been temporarily stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering most of their physical locations in 2017 certainly sounds 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 plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack New Jersey
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.