The bright side is that as of today RadioShack. Radioshack Sonsonate… has formally 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 strategies to return the iconic electronics merchant 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 outright prevent the possibility of new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found 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 millions of bored kids and grownups looking for something to do throughout the long winter nights, and an electronic package or more delivered to their door might be just the important things.
REV says they plan to relaunch the rather outdated RadioShack site in the nick of time for the company’s 100th anniversary in 2021. As of this composing the website presently states that sales have actually been momentarily stopped to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting an accurate count of 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 provided another shock of life today when they were bought by another business that plans to relaunch the once-great merchant as an online-focused brand.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can further raise awareness of the brand globally.
REV declares it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to grab tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Sonsonate
REV states it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar enough place to go when you desire to buy costly HDMI cable televisions and knockoff earphones.