The bright side is that since today RadioShack. Radioshack Smyrna, Tn… has actually officially been acquired by Retail Ecommerce Ventures (REV), offering the struggling business a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate plans to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet existence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude 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 reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups trying to find something to do during the long winter nights, and an electronic package or more delivered to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the website presently states that sales have actually been temporarily halted to permit stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical places in 2017 definitely seems like something the new owners would wish 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 seller 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 brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can further raise awareness of the brand internationally.
REV claims it’s successfully turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very first quarter of 2020.
RadioShack was established in 1921 and ended up being 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 Smyrna, Tn
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar enough location to go when you want to purchase expensive HDMI cables and knockoff headphones.