RadioShack’s shambling remains were offered another shock of life today. What Time Radioshack Close… when they were purchased by another business that plans to relaunch the once-great seller as an online-focused brand.
The shop’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brands from other faded retail giants as well, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “confident” it can even more raise awareness of the brand worldwide.
REV declares it’s effectively turned around other companies it’s released as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody aiming to grab tech basics. For a very long time, that meant actual radio components, but ended up consisting of great deals of electronic toys (one Brink editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined vastly as online shopping showed up, and the business filed for personal bankruptcy twice in the past five years. RadioShack still certifies its name to third-party “authorized” stores and offers branded items within some locations of HobbyTown, a crafts seller– comparable to how you can still find “Sharper Image” products at Kohl’s although that retailer shut its physical doors over a decade back. REV didn’t say whether those RadioShack licenses would remain. What Time Radioshack Close
REV states it will “soon relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.