Fortunately is that as of today RadioShack. Radioshack Uniform… has formally been acquired by Retail Ecommerce Ventures (REV), offering the distressed company a new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the iconic electronics seller to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Internet presence of other insolvent companies such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be discovered in your local shopping center. As the United States mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults searching for something to do throughout the long winter season nights, and an electronic set or 2 delivered to their door might be just the thing.
REV states they plan to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have been temporarily stopped to enable inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 certainly seems like something the new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were bought by another business that prepares to relaunch the once-great merchant as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a startup 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 website already has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name internationally.
REV claims it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in 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 anybody looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Uniform
REV says it will “quickly relaunch” RadioShack’s website. 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 buy overpriced HDMI cable televisions and knockoff headphones.