Find Why Is Radioshack Going Out Of Business 2022

The bright side is that as of today RadioShack. Why Is Radioshack Going Out Of Business… has officially been purchased by Retail Ecommerce Ventures (REV), providing the struggling business a new lease on life. The drawback, a minimum of for folks like us, is that there are no instant strategies to return the renowned electronic devices merchant to its brick-and-mortar roots. As the name suggests, REV focuses on online retail, having formerly revamped the Internet existence of other bankrupt companies such as Pier 1 Imports and Dressbarn.

While the press release doesn’t outright prevent the possibility of brand-new physical RadioShack locations, it’s clear that REV believes the future of retail isn’t to be found in your regional strip mall. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s hard to disagree. There will be countless bored kids and adults searching for something to do during the long winter season nights, and an electronic kit or 2 shipped to their door might be just the thing.

REV says they prepare to relaunch the rather dated RadioShack website in the nick of time for the company’s 100th anniversary in 2021. Since this writing the site currently states that sales have actually been temporarily stopped to enable inventory restructuring, though it’s unclear if this is straight related to the buyout or not. Getting an accurate count of how much merchandise the company still has on hand after shuttering the majority of their physical locations in 2017 certainly seems 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 prior to they believed offering tvs and phones was in some way a good concept. To their credit, they did attempt and rekindle their relationship with hackers and makers by asking the community what they ‘d wish to see in their shops. We all understand how that story ended. While it doesn’t look like this news will get us any closer to having an area store that stocks resistors, there’s a specific convenience in knowing that RadioShack packages and books will still be around for the next generation.

RadioShack’s shambling remains were offered another shock of life today when they were acquired by another business that plans to relaunch the once-great retailer as an online-focused brand.

The store’s remains were purchased 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 Product, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand worldwide.

REV claims it’s effectively reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and first quarter of 2020.

RadioShack was established in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to get tech fundamentals. REV didn’t say whether those RadioShack licenses would stick around. Why Is Radioshack Going Out Of Business

REV says it will “quickly relaunch” RadioShack’s website. So for those of you still sticking on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy costly HDMI cables and knockoff earphones.