The bright side is that since today RadioShack. Radioshack West Palm Beach, Fl… has formally been purchased by Retail Ecommerce Ventures (REV), offering the distressed business a new lease on life. The downside, 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 indicates, REV concentrates on online retail, having actually formerly revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t straight-out prevent the possibility of 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 US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic set or more shipped to their door might be just the important things.
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 presently states that sales have actually been briefly halted to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much product the business still has on hand after shuttering the majority of their physical locations in 2017 definitely sounds like something the 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 seller 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 brand names from other faded retail giants also, 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 “positive” it can even more raise awareness of the brand worldwide.
REV declares it’s successfully reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and second quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack West Palm Beach, Fl
REV says it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar enough place to go when you want to purchase pricey HDMI cable televisions and knockoff headphones.