Fortunately is that as of today RadioShack. Radioshack Westfield Nj… has officially been bought by Retail Ecommerce Ventures (REV), giving the troubled company a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate strategies to return the iconic electronic devices seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having actually previously revamped the Internet presence of other bankrupt organizations such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright prevent the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults trying to find something to do throughout the long winter season nights, and an electronic package or 2 delivered to their door might be just the important things.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this composing the site presently states that sales have been briefly halted to allow for stock 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 company still has on hand after shuttering the majority 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 purchased by another business that plans to relaunch the once-great seller 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 brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand internationally.
REV claims it’s effectively reversed other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Radioshack Westfield Nj
REV states 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 location to go when you want to buy pricey HDMI cable televisions and knockoff earphones.