Find Radioshack Declares Bankruptcy 2022 | PST

 

RadioShack’s shambling remains were provided another shock of life today. Radioshack Declares Bankruptcy… when they were purchased by another business that plans to relaunch the once-great seller 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, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV states RadioShack’s website already has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand internationally.

REV declares it’s successfully turned around other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income in 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 anybody seeking to get tech basics. For a very long time, that indicated actual radio components, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes decreased greatly as online shopping arrived, and the business filed for personal bankruptcy two times in the past five years. RadioShack still licenses its name to third-party “licensed” stores and offers branded products within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s even though that retailer shut its physical doors over a decade ago. REV didn’t say whether those RadioShack licenses would stay. Radioshack Declares Bankruptcy

REV states it will “soon 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 want to purchase pricey HDMI cables and knockoff earphones.