RadioShack’s shambling remains were given another shock of life today. Why Is Radioshack Going Bankrupt… when they were purchased by another company that prepares to relaunch the once-great seller as an online-focused brand name.
The shop’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 too, consisting of Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site currently has “strong existing sales and sales potential,” and the business is “positive” it can even more raise awareness of the brand internationally.
REV declares it’s successfully reversed other companies it’s released as online brands. The Wall Street Journal reported that Dressbarn more than doubled its earnings between the very first and 2nd quarter of 2020.
RadioShack was founded in 1921 and became a retail staple in the ’80s and ’90s for anybody seeking to grab tech essentials. For a long period of time, that indicated real radio components, however wound up including great deals of electronic toys (one Verge editor fondly remembers his Armatron) and ultimately phones. Its fortunes declined greatly as online shopping showed up, and the business filed for insolvency twice in the past 5 years. RadioShack still licenses its name to third-party “authorized” shops and offers branded items within some places of HobbyTown, a crafts retailer– similar to how you can still discover “Sharper Image” items at Kohl’s even though that seller shut its physical doors over a years back. REV didn’t say whether those RadioShack licenses would stick around. Why Is Radioshack Going Bankrupt
REV says it will “soon relaunch” RadioShack’s website. For those of you still sticking on to fond memories of the shop, there’ll be a familiar sufficient location to go when you desire to buy overpriced HDMI cable televisions and knockoff headphones.