RadioShack’s shambling remains were offered another shock of life today. What Radioshack Stores Are Closing 2014… when they were purchased by another company that plans to relaunch the once-great merchant as an online-focused brand name.
The store’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants also, consisting of Pier 1, Modell’s Sporting Item, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the business is “confident” it can even more raise awareness of the brand globally.
REV declares it’s successfully turned around other business it’s introduced as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its income 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 aiming to grab tech essentials. For a long time, that suggested actual radio components, however ended up including lots of electronic toys (one Verge editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased vastly as online shopping showed up, and the company applied for personal bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and sells top quality items within some areas of HobbyTown, a crafts merchant– comparable to how you can still discover “Sharper Image” items at Kohl’s even though that retailer shut its physical doors over a years earlier. REV didn’t say whether those RadioShack licenses would stick around. What Radioshack Stores Are Closing 2014
REV says it will “quickly relaunch” RadioShack’s site. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient place to go when you desire to purchase overpriced HDMI cable televisions and knockoff earphones.