Fortunately is that as of today RadioShack. Radioshack Pickups… has officially been purchased by Retail Ecommerce Ventures (REV), offering the distressed company a brand-new lease on life. The disadvantage, a minimum of for folks like us, is that there are no instant strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Internet existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack locations, 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 response 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 throughout the long winter nights, and an electronic package or two shipped to their door might be simply the important things.
REV says they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site presently says that sales have actually been momentarily stopped to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand.
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 as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s effectively reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pickups
REV says it will “soon relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you wish to buy pricey HDMI cables and knockoff headphones.