Fortunately is that since today RadioShack. Radioshack Video Surveillance… has formally been bought by Retail Ecommerce Ventures (REV), providing the distressed business a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the renowned electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having previously revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent 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 regional strip mall. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults looking for something to do throughout the long winter nights, and an electronic package or more delivered to their door might be simply the thing.
REV says they plan to relaunch the rather dated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. Since this composing the site currently states that sales have actually been momentarily stopped to enable stock restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the business 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 provided another shock of life today when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The store’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 as well, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand name globally.
REV declares it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings in 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 looking to grab tech basics. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Video Surveillance
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.