The good news is that as of today RadioShack. What Year Did Radioshack Close… has officially been acquired by Retail Ecommerce Ventures (REV), giving the troubled business a new lease on life. The disadvantage, at least for folks like us, is that there are no immediate strategies to return the renowned electronic devices seller to its brick-and-mortar roots. As the name implies, REV focuses on online retail, having previously revamped the Web existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV believes the future of retail isn’t to be discovered in your regional shopping center. As the US mulls further lockdowns in action to the continuing COVID-19 pandemic, it’s hard to disagree. There will be millions of bored kids and adults searching for something to do during the long winter nights, and an electronic package or more shipped to their door might be simply the important things.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021. As of this writing the website currently states that sales have actually been momentarily stopped to permit inventory restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much product the business still has on hand after shuttering most of their physical places in 2017 definitely seems like something the new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were provided another jolt of life today when they were acquired by another business that prepares to relaunch the once-great retailer as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “positive” it can further raise awareness of the brand name internationally.
REV claims it’s effectively turned around other companies it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone aiming to get tech fundamentals. For a long period of time, that meant actual radio elements, but wound up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping arrived, and the business declared bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “authorized” shops and offers branded items within some locations of HobbyTown, a crafts merchant– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a decade earlier. REV didn’t say whether those RadioShack licenses would stick around. What Year Did Radioshack Close
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar adequate place to go when you desire to buy pricey HDMI cable televisions and knockoff earphones.