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Is RadioShack still in the business?

Jaleel M

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A buyer Goliath in the 90s, RadioShack is a store where you could find the electronics for your needs. RadioShack was spread out across different parts of the United States, Mexico, United Kingdom, Australia, and Canada. At the beginning of the 20’s decade, RadioShack went through various losses and shut down after going through 11 straight quarterly failures. RadioShack eventually filed for Chapter 11 protection under United States bankruptcy law in 2015. After this, they only operate in the United States and Latin America. The company sold out in other parts. RadioShack is still in the business, but it’s not the same company it was before.

In May 2015, a company known as General Wireless bought most of the company assets, the name, and the property they are based, and this deal is worth US$26.2 million. After that, in 2017, RadioShack was purchased for an unrevealed amount by the present owner, Retail E-Commerce Ventures (REV).

Bunch of Radio placed in a showcase

Is RadioShack still in business?

Yes, they are operating their online website on a smaller scale while about 400 independent authorized dealers and about 80 Hobbytown USA affiliate stores are running till now.

Is RadioShack operating with a different name? 

“The Shack” is the new name for RadioShack. Now they are operating their offline stores under this name and running their online website on a smaller scale with the same old name, ‘RadioShack.’ 

History of RadioShack

The company was stated by two brothers, Theodore and Milton Deutschmann, who planned to provide equipment for the development in the field of radio. They set up their first shop in Boston in the year 1921. They picked the name “Radio Shack” because the meaning of this word is relatable to their context, a small wooden design housed a ship’s radio types of equipment. 

The company issued its first catalog with the initiative to put its foot in the high-fidelity music market in 1939 with a new brand name, Realist, to sell its private-label products. 

How is RadioShack planning to fulfill today’s market demand?

Being stubborn, they can’t handle the pressure of changing time; they are making their way back into the trade via the upcoming market cryptocurrency. The company is initiating this agenda because RadioShack can help break down the stereotype of ‘crypto adoption by more senior people. 

In December 2021, REV’s current owners of RadioShack announced that they are starting to work on a different platform  RadioShack Defi cryptocurrency, which the company says will let consumers swap living crypto coins for Radio tokens. There is no further information from the company on this venture.

Conclusion

RadioShack is handling its online website on a smaller scale and around 400 stores under REV. Other than this, they are also planning to expand their business and enter the blockchain market. In December 2021, REV’s announced the name of their new platform RadioShack Defi cryptocurrency. 

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