Fortunately is that as of today RadioShack. Radioshack Portable Power Bank 2302448 Keeps Shutting Off… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the struggling business a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the iconic electronic devices seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Web existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic package or 2 shipped to their door might be simply the important things.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. Since this writing the site presently states that sales have actually been briefly halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting an accurate count of just how much product the company still has on hand after shuttering the majority of their physical areas in 2017 definitely sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another shock of life today when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup 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 site currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV claims it’s effectively turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd 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 get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Portable Power Bank 2302448 Keeps Shutting Off
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you desire to buy costly HDMI cable televisions and knockoff earphones.