Fortunately is that since today RadioShack. What’s The Hours On Saturday For Radioshack In Lake City… has actually officially been purchased by Retail Ecommerce Ventures (REV), giving the struggling company a brand-new lease on life. The drawback, at least for folks like us, is that there are no immediate plans to return the iconic electronics seller to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having previously revamped the Internet presence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While journalism release does not outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional shopping center. As the US mulls even more lockdowns in action to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and adults looking for something to do during the long winter season nights, and an electronic package or more shipped to their door might be simply the thing.
REV says they plan to relaunch the rather outdated RadioShack website just in time for the company’s 100th anniversary in 2021.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 composing the website presently states that sales have been temporarily halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of just how much merchandise the company still has on hand after shuttering most of their physical locations in 2017 certainly seems like something the brand-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 business that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the company is “positive” it can further raise awareness of the brand internationally.
REV declares it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income 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 anybody aiming to get tech basics. For a long time, that indicated actual radio elements, however wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping showed up, and the company filed for insolvency twice in the past five years. RadioShack still accredits its name to third-party “authorized” stores and sells top quality products within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would remain. What’s The Hours On Saturday For Radioshack In Lake City
REV states 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 adequate location to go when you wish to buy pricey HDMI cable televisions and knockoff headphones.