The good news is that since today RadioShack. Why Did Radioshack Went Out Of Business… has actually officially been bought by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no immediate plans to return the iconic electronics retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having actually previously revamped the Internet presence of other insolvent businesses such as Pier 1 Imports and Dressbarn.
While the press release doesn’t outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be found in your local shopping center. As the United States mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s tough to disagree. There will be countless bored kids and adults looking for something to do throughout the long winter season nights, and an electronic kit or 2 shipped to their door might be simply the thing.
REV states they prepare to relaunch the rather outdated RadioShack website in the nick of time for the business’s 100th anniversary in 2021. As of this writing the site currently says that sales have been temporarily halted to enable stock restructuring, though it’s unclear if this is directly related to the buyout or not. Getting a precise count of just how much merchandise the business still has on hand after shuttering most of their physical areas in 2017 definitely sounds like something the new owners would want to do.
We all know how that story ended.
RadioShack’s shambling remains were given another shock of life today when they were acquired by another company that plans to relaunch the once-great retailer as an online-focused brand.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brands from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand name globally.
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 revenue in 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 anybody looking to get tech essentials. REV didn’t state whether those RadioShack licenses would stick around. Why Did Radioshack Went Out Of Business
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you desire to buy expensive HDMI cable televisions and knockoff earphones.