RadioShack’s shambling remains were given another jolt of life today. Why Did Radioshack Go Bankrupt… when they were acquired by another company that prepares to relaunch the once-great retailer as an online-focused brand name.
The store’s remains were purchased by Retail Ecommerce Ventures (REV), a startup founded in 2019 that’s been scooping up brand names from other faded retail giants as well, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales potential,” and the company is “positive” it can even more raise awareness of the brand name internationally.
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 income in between the 2nd and very first quarter of 2020.
RadioShack was founded in 1921 and ended up being a retail staple in the ’80s and ’90s for anyone aiming to grab tech essentials. For a long time, that suggested actual radio parts, but wound up consisting of lots of electronic toys (one Brink editor fondly remembers his Armatron) and eventually phones. Its fortunes decreased greatly as online shopping got here, and the company applied for personal bankruptcy two times in the past five years. RadioShack still accredits its name to third-party “licensed” stores and sells branded products within some places of HobbyTown, a crafts retailer– similar to how you can still find “Sharper Image” items at Kohl’s despite the fact that that retailer shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stay. Why Did Radioshack Go Bankrupt
REV states it will “soon relaunch” RadioShack’s site. For those of you still clinging on to fond memories of the store, there’ll be a familiar sufficient place to go when you desire to buy costly HDMI cables and knockoff earphones.