RadioShack’s shambling remains were offered another shock of life today. Radioshack Bankruptcy 2015… when they were bought by another company that prepares to relaunch the once-great retailer 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 brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name internationally.
REV declares it’s effectively reversed other business it’s launched as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody wanting to grab tech fundamentals. For a long period of time, that implied actual radio components, but ended up including lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased significantly as online shopping showed up, and the business declared personal bankruptcy twice in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and offers branded items within some areas of HobbyTown, a crafts seller– similar to how you can still find “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stay. Radioshack Bankruptcy 2015
REV says it will “quickly relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the store, there’ll be a familiar enough place to go when you desire to purchase expensive HDMI cables and knockoff earphones.