The good news is that as of today RadioShack. Radioshack Spokane, Wa… has actually formally 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 immediate strategies to return the renowned electronics merchant to its brick-and-mortar roots. As the name suggests, REV specializes in online retail, having actually formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the United States mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups looking for something to do during the long winter nights, and an electronic kit or two delivered to their door might be just the important things.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this writing the site presently says that sales have been temporarily stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical places in 2017 certainly seems like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another business that prepares to relaunch the once-great merchant 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 brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to grab tech fundamentals. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Spokane, Wa
REV states it will “soon 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 want to purchase overpriced HDMI cables and knockoff earphones.