RadioShack’s shambling remains were provided another jolt of life today. Is Radioshack Open On Veterans Day… when they were acquired by another business that plans to relaunch the once-great merchant as an online-focused brand.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s website currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand worldwide.
REV claims it’s successfully reversed other companies it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and second quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone wanting to grab tech basics. For a long time, that implied real radio components, however wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping arrived, and the company filed for personal bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality products within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that merchant shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would remain. Is Radioshack Open On Veterans Day
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to buy pricey HDMI cables and knockoff earphones.