The good news is that since today RadioShack. What Time Does Radioshack Open Today… has actually formally been bought by Retail Ecommerce Ventures (REV), offering the struggling company a brand-new lease on life. The downside, at least for folks like us, is that there are no immediate strategies to return the iconic electronics merchant to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Web presence of other bankrupt businesses 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 believes the future of retail isn’t to be found in your local shopping center. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter nights, and an electronic package or two delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack site just in time for the business’s 100th anniversary in 2021. Since this writing the site currently states that sales have been momentarily halted to allow for inventory restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much product the company still has on hand after shuttering the majority of their physical locations in 2017 certainly sounds like something the new owners would wish to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand internationally.
REV claims it’s successfully reversed other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became 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. What Time Does Radioshack Open Today
REV says it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar adequate place to go when you wish to purchase pricey HDMI cables and knockoff earphones.