Fortunately is that as of today RadioShack. What Years Was Radioshack In Massapequa 2002… has officially been acquired by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The drawback, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Internet existence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not straight-out preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your local strip mall. As the US mulls further lockdowns in reaction 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 throughout the long winter nights, and an electronic kit or 2 delivered to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. As of this composing the site currently says that sales have actually been briefly halted to enable stock restructuring, though it’s uncertain if this is directly related to the buyout or not. Getting a precise count of how much merchandise the company still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the brand-new owners would wish to do.
We all know how that story ended.
RadioShack’s shambling remains were given another jolt of life today when they were acquired by another company that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech fundamentals. For a very long time, that indicated real radio components, but ended up including great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business declared personal bankruptcy two times in the past 5 years. RadioShack still certifies its name to third-party “authorized” stores and offers branded items within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s although that seller shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. What Years Was Radioshack In Massapequa 2002
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you wish to buy overpriced HDMI cables and knockoff headphones.