Fortunately is that since today RadioShack. Radioshack Tucson Arizona… has officially been bought by Retail Ecommerce Ventures (REV), giving the distressed company a new lease on life. The drawback, at least for folks like us, is that there are no instant plans to return the renowned electronic devices seller to its brick-and-mortar roots. As the name indicates, REV concentrates on online retail, having formerly revamped the Web existence of other insolvent organizations such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found 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 trying to find something to do during the long winter nights, and an electronic set or two shipped to their door might be simply 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 composing the website currently says that sales have been briefly halted to permit stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of how much merchandise 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 want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were bought by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
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, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively turned around other business it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech essentials. For a very long time, that meant actual radio parts, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the company filed for personal bankruptcy twice in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers top quality items within some places of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would remain. Radioshack Tucson Arizona
REV says it will “soon relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar adequate location to go when you desire to buy expensive HDMI cables and knockoff headphones.