The bright side is that as of today RadioShack. Radioshack Rsconnect… has actually officially been acquired by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics retailer to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having formerly revamped the Web existence of other bankrupt organizations 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 further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter nights, and an electronic set or two delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack site in the nick of time for the business’s 100th anniversary in 2021. As of this composing the website currently states that sales have actually been momentarily stopped to allow for inventory restructuring, though it’s uncertain 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 most of their physical places in 2017 definitely sounds like something the brand-new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
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 also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name globally.
REV claims it’s successfully turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Rsconnect
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar enough location to go when you want to purchase pricey HDMI cable televisions and knockoff earphones.