The good news is that since today RadioShack. Why Is Radioshack Failing… has formally been acquired by Retail Ecommerce Ventures (REV), offering the troubled business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant strategies to return the renowned electronic devices retailer to its brick-and-mortar roots. As the name indicates, REV specializes in online retail, having formerly revamped the Internet presence of other bankrupt services such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t outright preclude the possibility of brand-new physical RadioShack places, it’s clear that REV thinks the future of retail isn’t to be discovered in your local shopping center. As the US mulls even more lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be countless bored kids and adults trying to find something to do during the long winter nights, and an electronic kit or 2 delivered to their door might be simply the thing.
REV says they prepare to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this composing the website presently says that sales have been temporarily stopped to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of how much product the company still has on hand after shuttering the majority of their physical areas in 2017 certainly sounds like something the brand-new owners would want to do.
We all understand how that story ended.
RadioShack’s shambling remains were offered another jolt of life today when they were bought by another company 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 brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the company is “confident” it can even more raise awareness of the brand internationally.
REV declares it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and very first quarter of 2020.
RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t state whether those RadioShack licenses would stick around. Why Is Radioshack Failing
REV states it will “soon relaunch” RadioShack’s site. So for those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you wish to buy expensive HDMI cables and knockoff headphones.