The bright side is that as of today RadioShack. Radioshack Sale… has formally been acquired by Retail Ecommerce Ventures (REV), providing the distressed business a new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronics retailer to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While the press release does not outright prevent the possibility of brand-new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults trying to find something to do during the long winter season nights, and an electronic package or more shipped to their door might be just the important things.
REV states they plan to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site presently states that sales have actually been momentarily halted 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 business still has on hand after shuttering most of their physical areas in 2017 certainly sounds like something the 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 purchased by another business that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, including 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 “confident” it can further raise awareness of the brand worldwide.
REV declares it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech essentials. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Sale
REV states it will “quickly relaunch” RadioShack’s site. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient place to go when you wish to buy overpriced HDMI cables and knockoff headphones.