Fortunately is that as of today RadioShack. Radioshack Pro18… has formally been acquired by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The downside, at least for folks like us, is that there are no instant strategies to return the iconic electronic devices merchant to its brick-and-mortar roots. As the name indicates, REV focuses on online retail, having actually previously revamped the Web presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not straight-out prevent the possibility of 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 further lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic set or two shipped to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have been briefly stopped to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the 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 plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were purchased 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 states RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully reversed other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the 2nd and first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Pro18
REV says it will “quickly relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to buy pricey HDMI cable televisions and knockoff earphones.