RadioShack’s shambling remains were given another jolt of life today. When Did Radioshack Close Stores… when they were acquired by another company that plans to relaunch the once-great seller as an online-focused brand name.
The store’s remains were bought by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants too, consisting of Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV states RadioShack’s website currently has “strong existing sales and sales capacity,” and the company is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s effectively turned around other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income in between the second and very first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody aiming to get tech fundamentals. For a long time, that meant real radio components, however wound up consisting of lots of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the company applied for bankruptcy two times in the past 5 years. RadioShack still licenses its name to third-party “licensed” shops and offers branded products within some locations of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” products at Kohl’s even though that merchant shut its physical doors over a years ago. REV didn’t say whether those RadioShack licenses would stay. When Did Radioshack Close Stores
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the store, there’ll be a familiar adequate location to go when you desire to buy costly HDMI cables and knockoff headphones.