RadioShack’s shambling remains were provided another shock of life today. Is Radioshack Having A Going Out Of Business Sale… when they were acquired by another business that plans to relaunch the once-great seller as an online-focused brand.
The shop’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, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand name worldwide.
REV declares it’s effectively reversed other companies it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the 2nd and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to get tech essentials. For a very long time, that suggested real radio parts, but ended up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased significantly as online shopping arrived, and the company declared insolvency twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded items within some areas of HobbyTown, a crafts merchant– similar to how you can still discover “Sharper Image” items at Kohl’s although that seller shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Is Radioshack Having A Going Out Of Business Sale
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough location to go when you desire to buy costly HDMI cables and knockoff headphones.