Find Will Radioshack Go Out Of Business 2022

The bright side is that since today RadioShack. Will Radioshack Go Out Of Business… has formally been bought by Retail Ecommerce Ventures (REV), offering the distressed business a brand-new lease on life. The downside, a minimum of for folks like us, is that there are no instant plans to return the renowned electronics merchant to its brick-and-mortar roots. As the name implies, REV specializes in online retail, having previously revamped the Web presence of other insolvent organizations such as Pier 1 Imports and Dressbarn.

While journalism release does not outright preclude the possibility of new physical RadioShack areas, it’s clear that REV thinks the future of retail isn’t to be discovered in your regional strip mall. As the US mulls further lockdowns in response to the continuing COVID-19 pandemic, it’s tough to disagree. There will be millions of bored kids and adults searching for something to do during the long winter season nights, and an electronic kit or two delivered to their door might be simply the thing.

REV states they plan to relaunch the rather dated RadioShack website just in time for the company’s 100th anniversary in 2021. Since this writing the website currently states that sales have actually been briefly stopped to permit stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting a precise count of just how much product the business still has on hand after shuttering the majority of their physical places in 2017 certainly sounds like something the new owners would want to do.

Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering phones and TVs was in some way a good concept. To their credit, they did try and rekindle their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. But all of us understand how that story ended. While it does not look like this news will get us any closer to having an area store that stocks resistors, there’s a particular comfort in understanding that RadioShack kits and books will still be around for the next generation.

RadioShack’s shambling remains were offered another shock of life today when they were bought by another company that prepares to relaunch the once-great seller as an online-focused brand name.

The shop’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 too, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can further raise awareness of the brand worldwide.

REV declares it’s successfully turned around other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits in between the first and 2nd quarter of 2020.

RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone looking to grab tech basics. REV didn’t say whether those RadioShack licenses would stick around. Will 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 shop, there’ll be a familiar adequate location to go when you desire to purchase costly HDMI cable televisions and knockoff headphones.