The good news is that since today RadioShack. Radioshack Pavilion… has formally been bought by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The disadvantage, at least 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 implies, REV focuses on online retail, having previously revamped the Web existence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional 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 trying to find something to do during the long winter nights, and an electronic set or two delivered to their door might be just the thing.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently states that sales have been briefly stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the company 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 purchased by another business that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Product, 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 internationally.
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 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 anybody looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pavilion
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 enough place to go when you wish to purchase pricey HDMI cables and knockoff headphones.