The bright side is that since today RadioShack. When Does Radioshack Go Out Of Business… has formally been acquired 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 instant plans to return the iconic electronics merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having actually formerly revamped the Web existence of other bankrupt businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack locations, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls even more lockdowns in response to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and grownups searching for something to do throughout the long winter season nights, and an electronic set or more delivered to their door might be simply the important things.
REV states they plan to relaunch the rather outdated RadioShack site just in time for the company’s 100th anniversary in 2021. Since this writing the site presently states that sales have actually been momentarily halted to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting a precise count of just how much merchandise the company still has on hand after shuttering most of their physical places in 2017 certainly sounds like something the new owners would wish to do.
Like the majority of you, we have fond memories of the Golden era of RadioShack, back before they believed selling phones and Televisions was somehow a good idea. To their credit, they did attempt and revive their relationship with hackers and makers by asking the community what they ‘d wish to see in their stores. We all know how that story ended. While it does not look like this news will get us any closer to having an area shop that stocks resistors, there’s a specific convenience in understanding that RadioShack packages and books will still be around for the next generation.
RadioShack’s shambling remains were provided another shock of life today when they were bought by another business that plans to relaunch the once-great retailer as an online-focused brand.
The shop’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively turned around other companies it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and 2nd quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. REV didn’t say whether those RadioShack licenses would stick around. When Does Radioshack Go Out Of Business
REV states it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to buy pricey HDMI cable televisions and knockoff headphones.