RadioShack’s shambling remains were given another shock of life today. Radioshack Bankruptcy Filing… when they were acquired by another company that prepares to relaunch the once-great merchant as an online-focused brand.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can further raise awareness of the brand internationally.
REV claims it’s effectively reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its revenue between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody looking to get tech essentials. For a long period of time, that suggested real radio parts, but wound up consisting of great deals of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes declined greatly as online shopping showed up, and the company filed for bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “authorized” shops and offers branded items within some places of HobbyTown, a crafts retailer– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years earlier. REV didn’t state whether those RadioShack licenses would stay. Radioshack Bankruptcy Filing
REV states it will “soon relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate location to go when you want to buy overpriced HDMI cables and knockoff headphones.