RadioShack new owners Alex Mehr and Tai Lopez hope to digitally rebuild the brand this time around. New owners have high hopes of making the company competitive again through its online store.
Although, RadioShack will no longer be seen in malls or on street corners but customers will be able to find products on its website.
While some corporations may look at Amazon as a threat, RadioShack owners will use Amazon as a marketplace to sell some of its products as well.
Mehr and Lopez have no plans on rebuilding the brick-and-mortar RadioShack empire, but they say there is a path back to profitability, and it all starts with the name.
Somewhere along the way, “The Shack” got lost. Unable to capitalize on the PC boom that began in the mid-eighties, it also found itself largely on the outside of the portable device revolution of the aughts and drifting toward irrelevancy. It booked its last profit in 2011. After store redesigns and other changes failed to draw customers, the Fort-Worth, Texas, company filed for Chapter 11 bankruptcy protection in 2015 and then again two years later.
The new owners say they hope to have RadioShack.com open for business by the end of the month. About 400 RadioShack locations remain open, but operate independently from the REV-owned parent company.