Fortunately is that as of today RadioShack. Radioshack Pro 107 Programming… has actually formally been acquired by Retail Ecommerce Ventures (REV), providing the distressed company a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the iconic electronic devices retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having previously revamped the Internet existence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter nights, and an electronic set or two shipped to their door might be just the important things.
REV says they prepare to relaunch the rather outdated RadioShack site in the nick of time for the business’s 100th anniversary in 2021.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 website currently states that sales have actually been momentarily halted to enable inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 definitely seems like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Pro 107 Programming
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to purchase overpriced HDMI cable televisions and knockoff earphones.