The bright side is that since today RadioShack. Radioshack Prairie Du Chien Wisconsin… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the troubled business a new lease on life. The disadvantage, 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 implies, REV concentrates on online retail, having formerly revamped the Web presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude 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 United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter nights, and an electronic package or more shipped to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website presently says that sales have been momentarily stopped to permit stock restructuring, though it’s unclear 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 most of their physical areas in 2017 definitely seems like something the brand-new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another shock of life today when they were acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand worldwide.
REV declares it’s successfully reversed other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech essentials. For a very long time, that implied actual radio parts, but wound up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping arrived, and the business declared personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” stores and sells top quality items within some places of HobbyTown, a crafts retailer– comparable to how you can still find “Sharper Image” products at Kohl’s even though that seller shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Radioshack Prairie Du Chien Wisconsin
REV says 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 want to purchase pricey HDMI cable televisions and knockoff headphones.