RadioShack’s shambling remains were provided another shock of life today. Why Did Radioshack Close Down… when they were acquired by another business that prepares to relaunch the once-great retailer 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 also, including Pier 1, Modell’s Sporting Product, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the company is “confident” it can even more raise awareness of the brand globally.
REV declares it’s successfully reversed other business it’s introduced as online brands. The Wall Street Journal reported that Dressbarn more than doubled its income between the second and first quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody wanting to get tech essentials. For a long time, that suggested actual radio elements, however ended up consisting of great deals of electronic toys (one Edge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping got here, and the business declared personal bankruptcy twice in the past 5 years. RadioShack still accredits its name to third-party “licensed” shops and offers branded items within some locations of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s despite the fact that that merchant shut its physical doors over a years back. REV didn’t state whether those RadioShack licenses would stay. Why Did Radioshack Close Down
REV states it will “quickly relaunch” RadioShack’s website. So for those of you still clinging on to fond memories of the shop, there’ll be a familiar adequate place to go when you want to buy overpriced HDMI cable televisions and knockoff headphones.