Retail Ecommerce Ventures, a Miami company that buys distressed retailers and relaunches them online, acquired RadioShack and its related global assets for an undisclosed amount.
“The RadioShack brands have resonated with consumers for nearly 100 years, and we are confident RadioShack’s relaunch as a cutting-edge e-commerce company will amplify the awareness of this iconic brand internationally,” said Alex Mehr, CEO of REV.
RadioShack filed for bankruptcy twice before the REV deal, once in 2015 and again in 2017. But Executive Chairman Tai Lopez said he was impressed with the brand’s “strong existing sales and sales potential of Radioshack.com” as well its its related sites across the U.S., Canada, India, Australia, Europe and China.
“Our approach builds off the existing strength of extraordinary brands such as RadioShack and supports our mission of transforming these beloved entities into internet-first companies.”
REV recently relaunched Pier 1 Imports and Dressbarn as internet-first companies after bankruptcy.
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