RadioShack’s shambling remains were provided another jolt of life today. Radioshack Closing 1100 Stores… when they were acquired by another business that plans to relaunch the once-great retailer 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 brand names from other faded retail giants too, including Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “positive” it can even more raise awareness of the brand name worldwide.
REV claims it’s successfully turned around other business it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings in between the very first and second quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anyone seeking to get tech essentials. For a very long time, that meant actual radio components, but wound up including great deals of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping showed up, and the business filed for insolvency two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” stores and offers top quality items within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s although that retailer shut its physical doors over a decade ago. REV didn’t state whether those RadioShack licenses would stay. Radioshack Closing 1100 Stores
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to purchase pricey HDMI cable televisions and knockoff earphones.